– the trading Tone in the coming week the markets will likely continue to ask the aggravated confrontation between the US and China. However, as shown by recent positive trading days, the markets lay the events of this theme on the second plan, giving more emphasis to restoration of business activity in the world. The only hard and concrete statements of the conflicting parties will have a pronounced negative impact.
the Most interesting macroeconomic data next week is published on Friday data on the labor market in the United States. According to forecasts, unemployment in may could reach 20%, however, it is important to note that these figures are for the most part already been laid in quotes, as significant deviations are unlikely.
On ruble assets, in addition to the General perception of risk by investors, will be more influence of the situation on the oil market. There is a moderate positive++, OPEC initiated negotiations to extend the current reduction in production (previously it was assumed that the process of restoring production will start in July), which in the case of successful development support quotes and reinforce the potential strengthening of the ruble. Without growth in oil prices we see no potential for a depreciation of the Russian currency significantly below 71 rubles per dollar.
