The mood on the world markets on Wednesday morning can be described as moderately positive. In Asia, leading sites add up to 1%. The exception is the Chinese market, which is losing 0.1%. Futures for major US indices, after a moderate decline on Tuesday, are pulling up within 0.5% this morning. The nearest futures for Brent crude oil is growing by 0.4%, trading around $78.4 per barrel. Of the macroeconomic events that can affect investor sentiment, today we will highlight the publication of statistics on pending sales in the housing market and oil and petroleum products stocks in the United States.
By the end of Tuesday, the Moscow Stock Exchange index rose 0.1%, ending the session around 2,442 points. Today, at the start of trading, the predominance of purchases in Russian stocks may continue, which is facilitated by an improvement in the situation in oil prices. As a result, the Moscow Exchange index may try to take another step towards the nearest resistance, located at the level of 2,500 points. At the same time, the factor constraining growth may be the desire of some investors to fix profits on long positions in Russian stocks, which, in case of deterioration of the external background, may lead to the transition of our market into correction and testing from above the long-term downward trend broken last week.
On the currency section of the Moscow Stock Exchange this morning, the ruble is moderately strengthening against major world currencies. So, by 8.45 Moscow time, the dollar and euro are losing within 0.1%, trading around 76.9 and 83.2 rubles, respectively, the yuan is declining by 0.2%, retreating to 11.15 rubles. It should be noted that the passage of the peak of tax payments again brings to the fore the factor of changing the balance of supply and demand of foreign currency in the market, shifting in favor of foreign currencies due to the expectation of an increase in imports and a possible decrease in the flow of currency into the country from exporters. This factor will put pressure on the ruble in the coming weeks. At the same time, the improvement in the situation in oil prices currently constrains the growth of major world currencies.
Bogdan Zvarich, Chief Analyst of the <url> financial platform
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