Oil and Ruble: correlation of returns
Markets ended the week “in the green”. Panic,
raising fears the consequences Brexit, subsided and investors again
show interest in risky assets. An additional factor
Support has performed, in general, good macroeconomic data and
corporate reporting. American S P 500 (ES) and Dow Jones
updated highs, but by the end of trading developed a correction on the background of the report,
reflected the sharp decline in consumer confidence (89.5 in July versus 93.5 in
June). As a result, this week the growth of US indexes was 1.17% and 1.82%,
respectively. German DAX 30 It added 4.47%. Japanese Nikkei on
the weakening of the yen and expectations of a new round of monetary stimulus
the economy grew by 6.57%.
In the currency
market growth leader became a couple USD / JPY. The point pair quotes
level reached 106.31. In general, the week the dollar strengthened against the yen to 4.27%.
The reason lies in the fact that after the election victory of the liberal-democratic
Party, appeared to stimulate a new wave of expectation in the market.
The British pound reacted with optimism due to the decision of the Bank of England
not yet reduce the rate. Couple GBP / USD It increased by 1.83%. Couple USD / RUB
I updated the lows of the year, but progress could not resist. ruble week
in the growth of the dollar by 0.61%.
crude oil Brent
earlier in the week said a 2-month low, dropping to the level of 45.90 dollars
a barrel. But by the close of the week I was able to recover the loss. According to the results
five-day energy source adds 3.07%. precious metals
It came under pressure against the background of declining interest in safe assets. Gold
(XAU / USD) fell by 2.14%. Silver (XAG / USD) lost 0.21%.
However, the beginning of the new week could bring them back to growth. And it will
It depends on how the situation will develop from an attempt of coup d’etat in
Turkey, undertaken on 16 July.
Continued on site GK FOREX CLUB
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