Stock markets have hit upon a delicate balance
After the Bank of China stabilized the yuan, thereby making it clear that the authorities do not plan to use currency as a weapon in a trade war with trump global investors calmed down a bit.
Stock markets went on to recover, although the General atmosphere in the markets is still imbued with caution after recent sharp escalation of the trade conflict between the two largest economies in the world.
That market participants continue to seek shelter in defensive assets, saying further purchases of gold, which was updated more than 5-year highs and have come close to $1,500.
However, on the eve of leading stock markets recovered, including the U.S. indices, which gained more than 1%. Today in Asia there are relatively stable trading, buying interest diminished, and the overall decor is reminiscent of a delicate balance that can be broken at any moment. Has slightly eased the pressure on risky assets statements by White house adviser Larry Kudlow, who said that trump wants to continue trade talks with Beijing, a us delegation remains ready to receive the Chinese delegation for a new round of talks in September. Against this background, yesterday Mosberg index rose 1.29% to 2683,35, and RTS has grown on 0,95%, having reached level 1294,50.
At the start of today’s session the domestic indices can feel not so confident. And not just because of some deterioration in the external background in Asia, but because of another collapse in oil prices.
Brent has updated the lows of the beginning of the year in the area between 58.50 per barrel and mostly remains under pressure. Moreover, the market has almost completely ignored the favorable industry news from the USA where the API reported another reduction in oil reserves (-3,4 million barrels against the forecast and 2.8 million) and the energy Ministry cut its forecast for oil production in the country this year at 90 thousand barrels per day, to 12.27 million barrels per day. Thus, it is not excluded attempts to revive the decline in the domestic market, although at this stage the preconditions for aggressive sales not.
Head of analytical Department,