The Russian stock market declined sales
Trump statements that China wants to sit at the negotiating table and to conclude the bargain with Washington, which has mitigated the concern about the increase of mutual tariffs, which the parties announced last Friday. Against this background, riskier assets, which initially came under heavy pressure, come to life, including the quotes.
So, after a brief drawdown on the start of the session, the Russian stock market went into a plus, although the rise is restrained by the continuing nervousness in the world markets. Afternoon index Mosberg increased by 0.2% and RTS is increasing by 0.41%, reacting to a modest strengthening of the ruble. Despite the lack of pressure on the domestic market, in conditions of tension prospects of development of bullish momentum looks limited. This also applies to stock indexes and the ruble.
The pair dollar/ruble oscillates around 66 rubles, and consolidation will continue until the occurrence of the latest driver, which will determine further movement direction of prices. Brent crude has already risen above the level of 59 dollars per barrel and aims it at around $ 60. However, in the short term, a confident break of this level would be unlikely, as investors continued to keep abreast and to follow further developments on the trade front.
In the Forex market, meanwhile, is dominated by the demand for the dollar. EUR/USD barely held above the 1.11 level, getting an extra attack from the weak IFO data in Germany. Next, traders will pay attention to the data on orders for durable goods in the United States.
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