The US starts a trade war, the statements of trump was not a farce

  • And
  • +A

United States of America start a trade war. The Russian stock market opened higher after the long weekend.
On 8 March the US President signed a decree on the introduction of tariffs on imported steel and aluminum. They will come into force on March 23. The greatest losses expected to incur European suppliers. In China it is called the beginning of a new trade war and predicted that the winners will not be in it. At the same time, I want to remind you that in 2002, similar action done by another American President, George Bush.
Subsequently, fairly quickly from these measures, America has refused many because of the fact that the introduction of fees led to the fall of the us stock market and the weakening of the U.S. currency. However for the current dynamics of international markets could be that this effect is now seeking Mr. trump. After all, the us stock market is on the rise, the us dollar is quite stable and a slight correction on all fronts will only benefit US.
On this background the dollar exchange rate on the Moscow stock exchange on Monday morning, holding around 56 rubles 70 kopecks, the Euro traded at the level of 69 rubles 80 kopecks. The MICEX index opened higher and is trading at around 2320 points, quotes of Brent oil kept in the area of $ 65 per barrel. Bitcoins according to the website CoinMarketCap is at the level of 9700 dollars.
Overall I must say that last week was not the most optimistic for the U.S. currency. The dollar weakened after positive data on the labor market. The American Ministry of labour last Friday released data on the growth in the number of jobs outside agriculture. The figure rose to 313 000, which was the highest since July of 2016.
As for the Russian market, despite a long weekend at the beginning of the new trading week, we do not see any significant volatility. Slightly older Russian stocks, the Russian ruble is declining. But this week it is likely we will have a sluggish market dynamics, in connection with the upcoming presidential elections. The second quarter, as we said earlier, the domestic currency can become quite heavy. Therefore, we believe that the second quarter will offset the trade in the range of from 57 to 58 rubles per unit of American currency.
_________
Gleb Zadoya,
The head of the analytical Department of the company,
ANALYTICS Online