Important events of the day
USA: weekly change in oil reserves from EIA – 18:30 Moscow time.Russia: weekly inflation – 19:00 Moscow time.
Russia: producer price index in October – 19:00 Moscow time.
USA: minutes of the Fed meeting – 22:00 Moscow time.
Russia: annualized seasonally adjusted inflation from the Central Bank in October.
In the spotlight
On Tuesday, the global market declined again. Investors continued to overestimate the prospects of technology companies in the first place, but at the moment, recent domestic political events in the United States could also have an impact on a number of assets. The Russian market moved to a noticeable growth yesterday. Investors played back the long-awaited geopolitical news, although it is still difficult to characterize it as a breakthrough in negotiations. At the same time, the data released in the evening showed that in November, the price expectations of Russian businesses updated the maximum since January.
Investors in the world today will primarily evaluate the minutes of the last Fed meeting, which may give signals about further rate dynamics in the United States. In Russia, the market will primarily be waiting for geopolitical news, but the environment will also be saturated with local events. Rosstat will publish weekly inflation data and the October producer price index, and the Central Bank of the Russian Federation is due to release its estimate of seasonally adjusted inflation in October.
Oil and the ruble
Oil prices rose yesterday. In general, the raw materials market is still trying to determine the future direction of movement, assessing the possible impact of geopolitical events on the supply of oil. Today, Brent futures are trading at $64.6/bbl. If today's data from the US Department of Energy confirms API estimates of a significant weekly increase in reserves, quotes may go closer to $64/bbl.
On Tuesday, the ruble continued to show multidirectional dynamics. The geopolitical news, which significantly affected the stock market, did not have a pronounced effect on the foreign exchange market. Today, the CNYRU exchange rate is at 11.36 rubles/yuan. Other EM currencies have been moving in different directions since morning. For now, the market will continue to wait for significant drivers for the exchange rate to exit the range of 11.30-11.50 rubles/yuan.
Viktor Grigoriev, Chief Analyst at Bank Saint Petersburg.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 staff 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, please contact the agency's editorial office by phone (499) 132-61-30 ext. 0102.
