The ruble remains at risk

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In the course of trading on Monday, the world’s major stocks are traded in the moderate lift. Careful shopping on the world stock markets with the onset of autumn suggests that investors are unable with certainty to predict future developments on the trade front, where the two sides exchanged new portion of the rates, but continue to prepare for the next round of negotiations.
In General, the interest risk, which increased in the second half of Friday’s trading, looks fragile and unstable. Flight from high-yield assets can be renewed at any time with the appearance of fresh negative.
On the Russian market after a morning of hesitation, there was a slight strengthening upside momentum. Afternoon index Mosberg and RTS rise by 0.7-0.8%, but is unlikely before the end of the session, developed growth rates above 1%. About this among other things is evidenced by the inability of oil prices to develop upward momentum after sliding 3 percent on Friday.
Meanwhile, the pair dollar/ruble is trying to determine the vector of movement, settling in the area of 66,60 RUB Downside risks for the ruble remain, but in light of the increasing attractiveness of risky assets, the selling pressure eased a little. The threat of a test of the highs on the 67 RUB has not disappeared and can be realized in the coming days, especially if on Friday America will release the strong data on the labor market and wages.
In the short term, players will be wary to wait for news from the trade front, and hence the prospects of strengthening of the ruble, even at the local level will remain limited.
Arseniy Dadashev,
Academy of management Finance and investment