World stock markets continue to trade in the mode of shopping

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Global markets continue to trade in the mode of purchasing risky assets. The threat of trade wars continues to hover in the air, but investors still prefer to ignore the signals from this front, focusing on positive local factors. By the way, it became known that the American senators plan to consider the legality of the fees, vodenichane in relation to the EU, Canada and Mexico, which gives some hope for a release of tension in the world.
After platforms of Asia in the advantage of open European markets, adding more than 0.5%. The exception is British FTSE 100, which has not yet decided on the motion vector.
Russian indices also started in positive territory, although momentum is limited – the index of Masuri increases within 0.2% and the RTS rising 0.4%. Optimism for the platforms hinders the ambiguous behavior of oil prices, which returned to their original positions after the morning leap and risk to go into the red zone.
The ruble opened with a gap up and new highs on may 25 in the area 61,63 RUB on the back of further retreat in the dollar across the spectrum of the market. Against the us currency, which earlier showed signs of fading momentum on the background correction of the yield of treasuries plays a sharp change in expectations about monetary policy of the ECB. On the eve of the European regulator reported that at the nearest session will consider the completion of the program of quantitative easing. Given the weakness of the dollar, the Russian currency may continue attempts to strengthen in the short term, but significant growth is unlikely.
Meanwhile, the Euro, fueled by rumors of the ECB, exceeded 1.18 and is already testing the local resistance around 1.1830, reaching highs of 17 may. In the absence of significant economic releases, the pair may continue to rally on expectations of tapering stimulus in the Eurozone. However, further North will be tougher than the first half of the week.
Nathan Lambert
Head of research,
Global FX