World markets recoup losses including oil and ruble
The new trading week in world markets began relatively quietly. Asian sites, which now traded with one part showed multidirectional dynamics, and in Europe at the start of the session buyers were bolder, which, coupled with a small rise in oil prices has resulted in a positive start to trading in Russia. The leading index, which slipped on Friday to recoup losses. So, in the first hour of trading the index and RTS Mosberg increase in the range of 0.7% and can speed recovery if careful interest to risk will continue.
The ruble opened with a gap up, but then it was closed. The pair dollar/ruble, which at the time once again tested the 200-day moving average tends to the mark of 65.50 RUB, a breakthrough which will strengthen the position of the level 65 rubles as psychological support. The ruble is practically not reacted on the improvement of Russia’s rating by Fitch under the influence of the dollar, which is relatively stable in the Forex market, trying to minimize the losses versus the yen and strengthened against the Euro. Against our currency plays the failure of oil prices to demonstrate a more sustainable recovery.
Brent gradually wins back losses, but the extent of the rollback look too modest in comparison with recent sales. Moreover, the quotations remain under the mark of 60 dollars per barrel after the end of last week, the IEA lowered its forecast for global oil demand in 2019 and 2020. Locally, the optimism has introduced the Baker Hughes report, which reflected a decrease in the number of drilling an additional six units last week. While being cautious interest to risk and the threat of a resumption of sales of higher-yielding assets in the short term, the potential for strengthening Brent will remain limited.
___________________ Arseniy Dadashev,
Academy of management Finance and investment