The Russian stock market came under pressure from the us sites

  • And
  • +A

Trading on the Russian market appears insignificant rise due to stable oil prices of $66,3 per barrel, an increase of 0.5% nearest futures MSCI emerging markets rebound, and futures on global stock indexes after declining by 1,3-1,5% of the underlying assets on Monday. The culprit of sales was the American market: the high – tech sector, Facebook shares fell 6.7% to $172 apiece of the scandal with the unauthorized transmission of user data to third companies for processing and drawing up of a psychological portrait of the user.
Against this background, some of the capital flowed into US treasuries, causing the yield fell slightly to 2.84%. At the same time, the dollar index decreased from-for fears of investors concerning the strengthening of protectionism policy of the US administration and the development of trade war with China. We will remind, last week changed US Secretary of state, who will be a tough game against China and Russia than the soft Tillerson. Theoretically, a weak dollar will help exporters, the United States, on the other hand, Wednesday is expected to increase by 25 b.p. to 1.75% top level interest rates, the fed following the FOMC meeting, which plays in favor of the dollar.
So, according to the futures, the probability of increase rate is 80%. Besides, 3-month LIBOR lending rate for dollars quoted by 2.2%, which also indirectly confirms the increase in the fed rate. In turn, the ruble will also be under pressure due to expectations of a decrease in the key rate of the Central Bank of the Russian Federation on 25 b.p. to 7.25%, according to calculations by the futures on the RUONIA rate. However, the real interest rate on ruble assets remains one of the highest in emerging markets, which attracted investors. Despite the fact that the outflow of foreign liquidity from the Russian stock market continues 3 trading sessions in a row due to anti-Russian hysteria. However, the weakening of the ruble to 57.9 per dollar plays in his favor for training of exporters for tax payments next week.
Viktor Veselov,
Chief analyst,