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Global stock markets will remain in a narrow range

There is no need to expect significant changes in financial markets next week. Earlier, the US Federal Reserve issued a statement on the continuation of soft monetary policy: Joe Biden sent to the Senate his package of measures to restore the US economy to $ 1.9 trillion. As a result, there are no prerequisites for the dollar to strengthen, but the dollar does not fall and maintains its level against the euro slightly above 1.20. The position of the Central Bank of the Russian Federation also suggests that the regulator is not ready to tighten monetary policy, despite the fact that that the inflation rate in the country has exceeded expectations. Therefore, in the first quarter of 2021, most likely, the key rate will not increase. News from Denmark on the permission to build the Nord Stream in the waters of the country positively affects the ruble. Crude oil has continued to rally since November 2020 and has gradually climbed to above $ 55 a barrel, helping to strengthen the ruble. The central bank ended the sale of currency from the sale of Sberbank, which was a significant measure to contain the rate last year. It has already been announced that the regulator will return to buying foreign currency, while the Ministry of Finance will sell the currency in parallel, but these events will have minimal impact on the market. Thus, there are no prerequisites for a change in currency rates next week. Forecast for the ruble exchange rate next week: 73-74 rubles / dollar, 89-90 rubles / euro .________________ Vladimir Zotov, Chief Operating Officer of the Treasury, Ural Bank for Reconstruction and Development (UBRD)

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