The Russian stock market will take a pause in growth before the end of the week

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Most major stock indices ended Wednesday lower. Russian indices were in line with the global trend and decreased as well. At the end of the day the ruble Mosberg index lost 0.30 percent, dollar-denominated RTS index to the weakening of the ruble declined more sharply by 0.63%. Among leaders of decrease – Rosneft (-1,62%) and VTB (-1,57%). The Dow 30 dropped in this case by 0.08%.
In the morning the Chinese market was still closed for the New year on the Eastern calendar, other indices in the region traded in different ways. The Australian ASX was up 1.1%, the Japanese Nikkei 225 was down 0.7%. Futures on the S&P 500 index was trading in the morning about 2723 points, to 0.25% below the closing levels of the previous trading day.
Morning external background before the trading opening is not positive, the bidding can begin modest decrease in the Russian indexes. Likely day trading corridor by index Mosberg is in the range of values 2515-2565 points, the RTS index is within the boundaries of 1205-1230 points.
After the stock on Wednesday fell and the ruble. At the end of the day on the Moscow exchange, the dollar calculations “tomorrow” rose to 65,8700 roubles (+25 kopeks), and the European currency has grown to RUB 74,9025 (+2,25 COP.). Rapid growth of the dollar is associated with its growth against other currencies on the world market: EUR/USD declined on Wednesday to 1,1405 1,1360. Morning moderately lower oil prices could put some pressure on the ruble at the beginning of today’s trading. Expected daily range of movement for the US dollar is 65.2-66.5 per RUB, for a European currency, or 74.2 75.7 per RUB In the focus of the market remains tomorrow, the Board of Directors of the Central Bank of the Russian Federation, which, however, nobody waits for a change in the current level of the key rate, which is at the level of 7.75% per annum.
Thursday morning the price of black gold has continued in the area of $62,4 per barrel. Likely daily range for today’s trading, Brent crude oil is $61,8-$63.1 per barrel.
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Vadim Iosub,
Senior analyst at information-analytical center.
Alpari