The Russian stock market is trading in a neutral

  • And
  • +A

Russian stock indexes traded in a relatively neutral environment, but the atmosphere still felt some tension. European markets traded in the red. Express flight from risk has not been observed, but the deepening of the inversion of the yield curve indicates the deterioration in sentiment in the short term. In recent trading, the yield on the 30 year US bond has updated the record low mark of 1.91%, which reinforces fears of a recession.
Index Mobimii is trading down 0.31%, including on the background of the symbolic strengthening of the ruble. RTS is located directly below the opening levels and so far does not indicate a growth potential. The us dollar after yesterday’s dash to the max 66,64 RUB settled in the area 66,30 RUB, trying to determine the vector of further movement. At the start of the session rouble was helped by the recent strengthening of oil prices, but Brent’s failure to pursue growth limiting potential of the restoration of our currency in the short term.
Moreover, if today’s energy Ministry data confirm a high API rating, which reflected the reduction in crude oil inventories in the United States by 11.1 million barrels, the black gold runs the risk of accelerating the retreat, especially since the players are not yet ready to breach the level of 60 dollars per barrel, which acts as a key local resistance.
In the Forex market major pairs are restricted within narrow ranges. Euro attempting a recovery, but remains around 1.11. the dollar/yen is showing a slight bearish bias after yesterday’s drawdown, and in the case of aggravation of the picture yield curve bond in the near future may test the 105.50 area.
___________________
Arseniy Dadashev,
Director,
Academy of management Finance and investment