The Russian stock market at new highs
The United States announced the imposition of new duties on Chinese goods. Index Mosberg has updated the historical maximum. The dollar and the Euro continues to lose ground against the ruble.
White House imposes another duty on the import of Chinese goods from September 24. We are talking about items worth $ 200 billion. The fee is 10% From 1 January 2019, the fee will rise to 25%. At the same time, States threaten China’s new and more stringent measures, if the government of China decides to incorporate the response. And yet there is no doubt that China will not sit still in these circumstances and the answer will follow fairly quickly. A trade war between the US and China is capable of in the near future to plunge financial markets into a new crisis.
Meanwhile, the auction of the Moscow exchange MICEX index rose in the morning to a new historical maximum in the area of 2383 items. The rouble index of the Russian stock hits record amid weak domestic currency.
This morning one unit of American currency give 67 rubles 65 kopecks, the Euro traded at 79 rubles 10 kopecks. The MICEX index holds near 2380 points, and oil quotations of mark Brent fell just below $ 78 per barrel. Bitcoins according to CoinMarketCap adjusted to 6300 dollars.
Records in the Russian stock market should not lead investors astray. Yes, the MICEX index set a new historical high, but this is due primarily to the weakness of the domestic currency. Dollar-denominated RTS index has lost around 7%, so much flattered to the growth of ruble prices for Russian assets is not necessary. Thus, the rouble gradually wins back losses incurred earlier against the dollar and the Euro. We believe that the correction may be some time still continue recommend you to look attentively at buying the U.S. currency in the medium term around 65-66 rubles.
The head of the Department of analysts