The mood on world markets on Wednesday morning can be described as moderately negative. In Asia, the leading sites are losing within 1.3%, and the Japanese market is the outsider. The exception is the South Korean market, which is adding 0.3%. Futures for the main American indices, after a slight increase a day earlier, are consolidating under Tuesday's closing levels this morning. The nearest futures for Brent crude oil moved down again, losing 0.6% and trading around $82.7 per barrel. Among the macroeconomic events that can influence investor sentiment today, we highlight the publication of data on industrial production in Germany and oil and petroleum products reserves from the US Department of Energy.
By the end of Tuesday, the Moscow Stock Exchange index fell by 0.3%, ending the session around 3,427 points. At the start of trading today, we expect the predominance of sales in Russian stocks to continue against the background of lower oil prices and weak demand for risk on external stock exchanges. As a result, the Moscow Stock Exchange index will continue its corrective decline and may consolidate below 3,420 points at the end of the day. In this case, it will be possible to talk about the end of the formation of the "double top" model in order to further decrease in the area of 3,360 points. If the market manages to hold positions above this mark, there will be chances for a resumption of growth and a return of the market to the 3,500 point mark.
On the currency section of the Moscow Stock Exchange this morning, the ruble shows a multidirectional movement against major world currencies. So, by 8.50 Moscow time, the dollar and yuan are adding 0.4% and 0.1%, rising to 91.5 rubles and 12.61 rubles, respectively, the euro, on the contrary, is decreasing by 0.3%, trading around 98.5 rubles. During the session, we do not expect a significant shift in the national currency from its current positions. At the same time, the pressure on the ruble will be exerted by the continuing deterioration of the situation in oil prices, which can lead to its moderate weakening. So, at the end of the day, we expect that the dollar/ruble pair may rise to the area of 91.7 rubles. At the same time, in our opinion, in the near future the lower half of the range of 90 rubles – 95 rubles will remain relevant for the American currency.
Bogdan Zvarich, Chief Analyst of the Bank's financial marketplace.roo
The Comments section of the AK&M news agency publishes materials submitted by Russian and foreign investment companies and banks. Their opinions may not coincide with the opinion of the editorial board of the AK&M agency. The opinions presented in the comments are expressed taking into account the situation at the time of publication of the material. The comments are for informational purposes only; they do not constitute an offer or advice on the purchase or sale of securities. For questions about the placement of information in this section, you can contact the agency's editorial office by phone (499) 132-61-30 ext. 0102.
