The mood on the world markets on Friday morning can be described as positive. In Asia, the leading sites are growing within 1%. Futures on major US indices, after a moderate rise a day earlier, are adding up to 0.2% this morning. The nearest futures for Brent crude oil retreats by 0.3%, trading around $78.4 per barrel. Among the macroeconomic events that can influence investor sentiment on world markets today, we will highlight the publication of preliminary data on inflation in the Eurozone, as well as statistics on personal consumption expenditures and the consumer sentiment index from the University of Michigan in the USA.
By the end of Thursday, the Moscow Stock Exchange index tightened by 0.2%, ending the session around 2,466 points. Today, at the start of trading, the predominance of purchases in Russian stocks may continue, but the deterioration of the situation in the energy market will restrain the growth of our market. At the same time, closer to the end of the day, it is possible to activate sales due to the desire of some investors to fix profits on long positions on the eve of the weekend. This factor may lead to compensation for the morning growth and the transition of the market into a corrective decline. As a result, the Moscow Stock Exchange index may retreat below 2,460 points by the close.
On the currency section of the Moscow Exchange, the main world currencies demonstrate a multidirectional movement against the ruble. So, by 9.10 Moscow time, the dollar and yuan are adding within 0.1%, trading around 77.1 and 11.2 rubles, respectively, the euro, on the contrary, is decreasing by 0.3%, retreating to 84.1 rubles. During the session, the ruble may come under pressure and weaken against major world currencies by the end of trading. The reasons will be both the deterioration of the situation on the energy market and the reduced supply of foreign currency on the market by exporters. Under the circumstances, in our opinion, the dollar/ruble pair may attempt to continue growth during the session and reach the area of 77.5 rubles by the end of the day.
Bogdan Zvarich, Chief Analyst of the <url> financial platform
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