... access to international financial markets. Decline in Export Revenues Falling global prices for oil and gas, along with a reduction in their export, diminished the inflow of foreign currency into Russia. Monetary Policy The Central Bank maintains the key interest rate at 21%, which curtails economic activity but does not stop capital outflows. Increase in Imports The gradual recovery of demand for imported goods increased the need for foreign currency, putting additional pressure on the ruble. Forecasts for 2025 ...

... interest rate hikes. Now, in May 2025, the market is closely monitoring the Fed’s actions: there are expectations of gradual rate cuts in the second half of the year if inflation remains under control. Easing monetary policy typically leads to an influx ... ... or other economic shocks (e.g., geopolitical conflicts, energy crises) could lead to a return to tightening policies, cooling interest in crypto-assets. The key macro indicator is the Fed's key rate: an increase in May seems unlikely, but if the regulator's rhetoric turns hawkish again,...

... lead to volatility in the ruble and Russian equities. ECB and Fed Speeches: Potential rate hikes in the EU and U.S. may strengthen the dollar and euro, weakening the ruble... ... if easing policies are mentioned, this may support the ruble and increase investor interest in Russian assets. Stock Market: Russian traders may see Western earnings reports... ... Central Bank Speeches: Pay attention to statements from Fed and ECB representatives. Key signals about monetary tightening could boost the dollar and euro, affecting the...

... financial condition. It's essential to assess metrics like revenue, net income, debt load, and profitability. Valuation Multiples. Key financial multiples, such as P/E (Price-to-Earnings), P/B (Price-to-Book), EV/EBITDA, and others, help compare a company with ... ... industry competitors and estimate its market value. Macroeconomic Factors. Important macroeconomic indicators, such as inflation rates, interest rates, exchange rates, and GDP, can significantly influence the stock market and individual companies. News and Events....

... European and American Investors: Monetary Policy Signals: China's MLF rate decision and the U.S. FOMC minutes will provide critical insights into the monetary policy directions of two major economies. Shifts in these policies can affect global liquidity, interest rates, and investor sentiment. Housing Market Indicators: Data on U.S. home prices and new home sales will shed light on the health of the housing sector, a key component of economic growth. Strong figures may boost confidence, while weak data could raise concerns about economic stability. Consumer and Manufacturing Data: The Consumer Confidence Index and manufacturing indices offer perspectives on economic ...