The ruble after the “smart” missile is waiting for new sanctions

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The Russian currency remains under pressure after losing last week. The currency is quite reservedly missile strikes on Syria made on Saturday, the United States, Britain and France. And segment risk assets in General refrained from panic sales this time. Domestic stock indices are moderate loss from the start of trading on Monday.
At the weekend, market participants have already digested the developments on the Syrian front, and now, in particular, Russian investors, interested in the idea of new sanctions, which Washington has promised to announce today. However, this time the market reaction to a new list of restrictions may not be as extensive as last week, due to the low probability of imposition of sanctions in respect of Russian public companies.
But in General the market situation remains tense, and despite the relative stability, the ruble remains vulnerable to downside risks in the short term. To limit the implementation of the bearish scenario in the case of the ruble may have started in Russia the tax period, as well as high
oil prices, which show a limited bearish correction earlier in the week but still remain near multi-year highs.
Also locally the pressure on the “Russian” restrains the weakening of the dollar in the international arena. With more steady and strong recovery of the positions of the ruble at this stage is not expected because of the preservation of external risks to domestic assets.
Roman Blinov,
Head of analytical Department,
“International financial center”