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Foreign exchange markets
Last week began with depreciation of ruble — at the exchange dollar rate woke up at the first day of auction higher than 62 rubles, and euro — it is higher than 70 rub. However further the quiet geopolitical situation and stable prices of oil led to strengthening of the Russian currency — on Friday euro exchange rate at the Moscow exchange for the first time in the current year fell below a mark of 66 rubles, and the dollar fell lower than 60 rubles.
The Bank of Russia since March 6, 2015 set an official rate of euro at the level of 68,30 rub. It is more than 80 kopeks lower than the previous value. This indicator was the lowest since December 27, 2014.
The official rate of dollar decreased all by the 3rd the cop and made 61,84 rub.
During Friday auction at the ICE exchange the cost of futures for Brent brand oil with delivery in April, 2015 rose to $61,03 that there is 0,9% above than the level of closing of previous day.
At the beginning of new week the price of these futures fell to $58,53, and during trading on Tuesday rose to $58,55. It led to the fact that at opening of auction at the Moscow exchange on Tuesday, however, the American currency returned on level over 61 ruble.
The chief economist of ITinvest Sergey Egishyants in the weekly overview told about the situation which developed in the market of energy carriers:
According to Baker Hughes, recession of number of active boring was obviously slowed down – however for longer periods (from a quarter to one year) reduction continues to grow fat: on oil in the last three months the indicator dropped by 37.3%. Thus production in the States grows, having reached a pica for 43 years: tankers storages were overflowed. Brent persistently does not want to adjust the last growth – why and WTI considerably cheered up; natural gas in the USA slipped below a mark of 100 dollars for 1000 cubic meters again.
Euro continues to weaken in relation to dollar — the currency pair of EUR/USD surely reached a point 1.08:
At the beginning of last week the index of MICEX rose higher than 1800 points for the first time since February 20, the RTS Index also showed growth. Growth of oil quotations and strengthening of ruble allowed the main Russian share indexes to keep at the reached levels, however week came to the end with their decrease.
The analyst of ITinvest Vasily Oleynik in the overview so described perspectives of change of an index of MICEX:
The Russian ruble index of MICEX and the Russian events already discounted the most part of inflation and devaluation, and here the serious fundamental reasons for further growth did not appear. On many, most liquid Russian stocks, on an extent of the last three weeks the output of investors on the increased amounts therefore from the current levels of strong growth without correction we will hardly see was observed. A question only in the depth of correction. The closest purposes of correction on an index of MICEX are in range of 1620-1640 points now. As soon as the price is closed below a mark of 1730 points then the way to the closest range of support will be open.
You should not forget also about the forthcoming quarter expiration which will take place in the middle of month. Even, if the Russian stock market to it is artificially kept, then later, all the same there will be what has to – at least removal of a perekuplennost as at most, good correction.
What in the current situation to do to private investors
The economic observer of RBC-TV Zhanna Nemtsova talked to the chairman of the board of directors of VTB the Capital Management of Assets with Vladimir Potapov about the current situation in the markets and those opportunities which it opens for private investors.
For today everything, thanks for attention. It is more than analytical materials from leading experts on the website ITinvest.
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