The maximum ruble took a moment for growth

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In Thursday trading on the stock market of the Russian Federation pass without a single dynamics, as well on foreign sites. The fact that the outcome of the U.S. Federal reserve meeting, investors perceived in two ways – on the one hand, positive for risk assets is the fact that the regulator will not raise rates this year. On the other – the Central Bank expressed concerns about trade negotiations with China, Brekzita and the economy in General, limiting the positive reaction of markets.
In the second half of day the index of Mobimii is trading near opening levels, trying to get into the green zone, while the RTS adds nearly 1% amid continued growth of the ruble.
The pair dollar/ruble went to new lows of August in the area 63,56 RUB where partially rebounded, but remains in the red zone. Such a reaction of the quotes is quite logical, given the widespread drawdown of U.S. currency after a meeting of the Federal reserve. However, the current trend of recovery of the USD in the Forex market may limit the potential for further strengthening of the ruble, which over the past two weeks and already has achieved considerable success.
In addition, the oil market is showing some signs of correction. After updating to 4-month highs on the approach to the mark 68,50 per barrel, Brent retreated and now clings to a level of 68 dollars. A daily close below that area may lead to more aggressive profit-taking, especially before the onset of the weekend.
Gennady Nikolaev
Academy of management Finance and investment