The Russian stock market highs
Last week ended on a positive note, which is picked up by the Asian platform at the auction this morning. American markets managed to rise on Friday at 1.4-1.5%, and Asia took over the baton of growth, adding 0.6-0.7% in the morning, which allowed me to recover 2/3 of the failure of the beginning of the month.
Much better feel associated with the raw materials site. The Russian market finished last week with a review, positive background contributes to the development of this rally. Among the positive factors for the Russian platforms, we should highlight the commitment of Saudi Arabia to impose restrictions on the extraction of significantly lower arrangements to stabilize the market. As a result, the Brent oil rose above $67 a barrel, up last week 2.5 of the dollar and returning to the levels of three weeks ago.
In the currency market, the dollar index has turned to decrease after the turn of the markets to growth and the completion of an unusually large phase of raising funds with the U.S. Treasury. A strong macroeconomic picture gives hope for the further rebound of stock prices in the absence of a global impediment to growth.
At the opening of trading in the morning USDRUB dropped to the level of 55.90, losing 62 kopecks, and the positive external background formed the basis for consolidating below important support at 56.00.
However, the EURRUB pair starts the week at about 69.60, and are able to continue to move away from the important round level of 70 on the predominance of positive sentiment in commodity markets. An important step this week could be to test the level of 69, which is an important support before the test local minima in 68.