The ruble Drop may increase to the end of the week
On Monday the auctions at the Russian currency on the MICEX were closed for a national holiday. Meanwhile, in global markets saw little change: wait-and-see mood before the elections to the Congress of the United States – continued.
In General, all the movements were mixed. So, Chinese stocks lose in value the second day in a row, as well as the yuan. After the initial optimism around the potential of progress in the negotiations between China and the United States, participants returned skepticism. Thus, in terms of China is increasingly marked deterioration in business sentiment.
Oil futures are back in investors ‘ focus, giving more and more signs of breaking the rising trend. Players today with the ruble is likely to draw attention to the fact that on Monday all attempts to develop the rebound of oil were in vain. Brent almost did not move, while WTI decreased for the seventh consecutive trading session.
Us markets closed trading Monday with the growth, despite the decline in prices Apple and Amazon, two of the most expensive companies in the world.
Thus, the main trends of earlier days remain. This uncertainty in the resolution of trade conflicts, the pressure on IT companies and Chinese stocks, and to decrease in quotations of oil.
For ruble it can be a signal of further pressure, in accordance with the developing trend of the previous week. At the same time, the situation on the market looks calm and far from panic sales, which we saw in August and September, emerging markets in October in the US and Europe. It turns out that on Tuesday we can expect only moderate pressure on the Russian currency.