Premarket. Anomalies are increasing

February started with a strong rise in the main stock markets of the world. The removal of overbought conditions and the achievement of significant technical support in the indices led to an increase in demand in risky assets.



Investors shrugged off even the risks of a reduction in the US fiscal program. According to the combination of factors, the positive dynamics in the European markets will continue on Tuesday.You can also find out more information from deltamarket broker, which has proven itself with good reviews.

Oil prices rushed to the highs of the year. Estimates of the dominance of the uptrend and the permanent weakness of futures contracts at the end of January were justified. On the side of buyers of commodity assets, there are risks of a shortage of raw materials due to the recovery of global demand and the discipline of members of the OPEC+ cartel to curb energy production.

Against such a favorable background, the Russian market looks weak. The discount factor is geopolitics. Market participants are not unreasonably afraid of further sanctions pressure from Western partners. Anomalies are increasing, and the yield spread of the Russian and US markets is expanding.

Asian markets

Investors in the Asia-Pacific region on Tuesday are consolidating Monday's success.

Chinese markets are up about half a percent, despite the rapid growth of their counterparts in the region and a strong rebound in US indices and morning futures. Previously, the stability of the Chinese stock market to global negative trends has been repeatedly noted, but on the return movement of global benchmarks, we have a rather restrained reaction from investors in China. Market participants live on an intra-country agenda.

Earlier, the Chinese yuan, a leading indicator of global trade risk, pointed to the fleeting weakness of equity markets. While the USD/CNY currency pair is below 6.5, downside players in risky assets can only be satisfied with limited corrections. The Chinese currency continues to move in the area of 3-year highs.

The Australian ASX is rising around 1.5%, driven by a high rebound in the US market, with which the Australian benchmark has historically had a good correlation. The Reserve Bank of the country maintains a soft monetary policy and supports the players for the increase.

The regulator left the funding rate at the previous minimum level of 0.1% per annum. The consequences of the coronacrisis determine the long-term nature of economic stimulus.

American sites

US indices soared by 0.8–2.6% yesterday. The high-tech Nasdaq was the leader. The broad-based S&P 500 index rose more than 1.5%, reversing Friday's weakness. The benchmark stock market rose by 3% from the reversal level of 3,660 p. indicated last week. Tuesday morning futures continue to rise to 3790 p. (+0.5%).

The recovery factor of the US stock market will support the buying mood in most markets around the world until the opening of the main US session. And there, investors will have to face a strong resistance of 3800 p.on the S&P 500.

The panic of investors against the background of a coordinated attack by private investors on the positions of hedge funds has somewhat subsided. The delay of US lawmakers in adopting the fiscal package of state support also seems to have reduced its significance. However, for now, we should consider the growth of the beginning of February as a technical rebound. The volatility is likely to make itself felt again.

The US currency, the US dollar, is now experiencing two positive exchange rate factors, moving away from the lows of the last three years, tested in early January 2021.

Firstly, market participants expect the country's macroeconomic indicators to continue to recover, and secondly, the issue of providing another portion of fiscal support to the US economy remains unresolved, which somewhat slows down the devaluation trend in the national currency. As a result, the US dollar index rebounded to 91 p.on the DXY. If the level drops, there will be room for maneuver by 92 p. This factor puts pressure on the currencies of developing economies.