... will ease somewhat. Export Attractiveness. High conditions on external markets make fuel exports more profitable than domestic sales. World prices for oil and petroleum products remained relatively high in 2025, and the exchange rate of the national currency is not as strong as before, increasing ruble revenues from exports. In these circumstances, oil companies are eager to maximize exports, reducing supply to the domestic market. This creates a trend of scarcity and contributes to rising domestic ...

... cryptocurrency market. For Ethereum in May 2025, several aspects can be highlighted. Firstly, the legal status of ETH. In the U.S., discussions are still ongoing regarding whether Ethereum qualifies as a security (as some officials would like) or as a commodity/currency. A clear recognition of ETH as a non-security would alleviate many risks and pave the way for institutional investments (as mentioned above). Conversely, aggressive regulatory actions against Ethereum (such as a ban on staking for individuals,...

... annum) had only a moderate impact on the attractiveness of ruble assets: the outflow of foreign speculative funds remains restrained, as the central bank’s decision was largely anticipated and priced in in advance. Moreover, ongoing sales of foreign currency receipts by exporters and cautious interventions by the regulator help smooth out exchange rate fluctuations. As a result, the ruble demonstrates relative stability even amid a declining interest rate differential, and volatility in the currency ...

... ruble exchange rate. How This Could Impact Markets The combination of so many significant events in one day can lead to heightened volatility in global markets. Investors' reactions will depend on whether expectations are met or if surprises occur: Currency markets: The morning release of the RBA minutes already slightly swung the AUD, while Bailey's speech influenced the GBP. If, for instance, Bailey hinted at more aggressive rate hikes, the pound could significantly strengthen, dragging euro cross ...

... the press conference (at 21:30 MSK) for signals regarding future policy – especially hints of a possible rate reduction in September or later. The decisions of the Federal Reserve traditionally influence the overall dynamics of the stock market , currency rates, and precious metals. Thus, the combination of GDP data and the Fed's rhetoric will dictate market sentiments: confirmation of decelerating inflation and a soft tone from the regulator could support a rally in risk assets, while any “hawkish” ...