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Global stock markets remain neutral



Global stock markets are trading in neutral mode, staying in limbo awaiting the main event of this week – Biden’s disclosure of the details of the fiscal stimulus package, on which the further investor sentiment will depend. Rumors recently surfaced that support to the economy could exceed previously discussed, amid US Treasury yields rebounding again, pulling the dollar behind them. After the controversial closure of Wall Street and Asia, European markets also opened mixed, confirming the presence of nervousness on the eve of the announcement of the details of the stimulus package, as well as the speech of the head of the Fed Powell, which may introduce additional volatility on global markets and affect the behavior of dollar pairs. As for the current dynamics of currencies, the main pairs are trading with minor changes. The dollar / ruble, which tried to rise at the opening of the session, went into negative territory due to the resumption of the bullish bias in the oil market. Brent retreated slightly from new highs in February 2020, but remains in high positions and refuses to move to a deeper correction, which may indicate the willingness of players to push the barrel to new long-term highs under certain circumstances. Meanwhile, the Russian market has gone into a slight minus since the beginning of the session … Losses look moderate, and, apparently, the leading indices have every chance of returning to the growth zone during the session and perhaps even renew highs if the external background improves. However, until Biden’s speech, the movements in the Russian and foreign markets will be restrained ._____________________ Mikhail Dorofeev, Chairman of the Board, CPC Obnovlenie

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