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Russian stocks can fall after US Fed promises policy toughening

MOSCOW, Apr 22 (PRIME) -- The Russian stock market may open lower on Friday continuing the negative global trend of the Thursday's evening after U.S. Federal Reserve System (Fed) promised fast toughening of the monetary policy, analysts said.

"As regards the global markets mood on Friday morning, they can be characterized as negative. The Asian markets fell by 1.6%, the U.S. key indices' futures lost up to 0.2%. The nearest Brent oil futures fell by 1.3%, trading a bit below U.S. $107 per barrel," senior analyst at financial supermarket Banki.Ru Bogdan Zvarich said.

The analyst said that the investors became pessimistic after the U.S. Fed reiterated that the key rate could be raised by up to 50 basis points at each of the next meetings. Toughening of monetary conditions at each of the remaining meetings in 2022 is not ruled out due to high inflation.

Otkritie Research’s analyst Andrei Kochetkov said that the oil price may start to recover, because Thursday's fall was caused by statements that the E.U. could introduce an embargo on Russian oil. He qualified the background for the start of the session as neutral.

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22.04.2022 09:41