The mood on the world markets on Tuesday morning can be described as moderately positive. In Asia, the leading sites are adding within 0.8%. The exception is the Indian market, which is losing about 0.1%. Futures for major US indices, after a slight increase a day earlier, are now pulling up by 0.1%. The nearest futures for Brent crude oil, having shown steady growth on Monday, is losing about 0.5% this morning, trading around $77.4 per barrel. Of the macroeconomic events that can influence investor sentiment today, we will highlight statistics on the consumer confidence index in the United States, as well as speeches by the heads of the ECB and the Bank of England.
Following the results of Monday, against the background of a significant increase in oil prices, the Moscow Stock Exchange index added 2.1%, rising to 2,441 points. Today, at the start of trading, Russian stocks may try to continue the upward trend, despite the morning correction in the energy market. This will allow the Moscow Exchange index to gain a foothold above 2,400 points and take another step towards the nearest resistance, located at 2,500 points. It should be noted that yesterday during the session, the Russian market broke through a long-term downtrend originating from the highs set in October 2021, which signals the possibility of a wave of recovery of our market.
On the currency section of the Moscow Stock Exchange this morning, the ruble is strengthening against major world currencies. So, at 9.00 Moscow time, the dollar and the euro are declining by 0.3% and 0.1%, trading around 76.4 and 82.5 rubles, respectively, the yuan retreats by 0.2% to 11.08 rubles. During the session, the national currency will try to continue the upward trend. A significant improvement in the situation on the energy market can compensate for the gradual decline in the supply of foreign currency from exporters and will contribute to the strengthening of the ruble. Under the circumstances, the dollar/ruble pair may retreat to the area of 76 rubles by the end of the session.
Bogdan Zvarich, Chief Analyst of the <url> financial platform
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