The Russian stock market set a new historical record

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Index Mosberg on Tuesday updated its historical maximum, having risen above $ 2379,44 points, while the RTS index returned to above the level of 1100 points for the first time since early August.
Such dynamics of the index is observed in the correction to the previous, fairly long-term decline that started in anticipation of the U.S. economic sanctions against Russia.
A positive benchmark for the Russian stock market yields and the dynamics of the ruble, which is rising against the dollar and Euro after the decision of the Bank of Russia to increase the key rate to 7.25% per annum. In addition, the regulator has announced that it will not buy currency for the needs of the Ministry of Finance on the domestic market until the end of the year.
We can expect that the Russian stock market in the short term has a chance to even continue the growth index Mosberg can grow to 2400 points, and the RTS index – up to 1120. However, pressure was exerted on him falling to $77 a barrel, Brent oil prices, which crushed expectations of market participants regarding a possible reduction in global oil demand. In addition, investors continue to expect the introduction of new economic sanctions of the USA against Russia.
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Ivan Marchena,
Analyst
GK Forex Club