Currency and Stock Market Updates: Dollar Falls, Euro and Yuan Rise | Latest Oil Prices and Inventory Data

2023-08-23 17:46:15

Currency

The US dollar fell, the euro and the yuan rose on the Moscow Exchange during the trading session on Wednesday. By 19:00 Moscow time, the US dollar exchange rate amounted to 94.26 rubles, which is 4 kopecks lower than the closing level of previous trading. By that time, the euro had risen in price by 15 kopecks and cost 102.52 rubles. The Chinese yuan rose by 1 kopeck and closed at 12.9 rubles.

In the global foreign exchange market, the dollar index against a basket of six major currencies DXY fell and by 20:30 Moscow time was in the region of 103.3 points.

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The trading session on the Moscow Exchange ended with a decrease in the main indicators. The Moscow Exchange Index fell 0.6% to close at 3146 points. The RTS index sank 0.6% and ended the trading session at 1051 points.

According to the results of the second quarter, the Moscow Exchange received 12.11 billion rubles of net profit under IFRS, which is 46.2% more than in the same period of 2022 (8.286 billion rubles).

Ozone in the II quarter grew up turnover (GMV), including services, by 2.2 times – up to 372.6 billion rubles. Revenue in the reporting period amounted to RUB 94.2 billion, up 61% year-on-year. Ozon’s adjusted EBITDA in the reporting quarter decreased by 67% to RUB 62 million. The company explains the dynamics with strategic investments aimed at accelerating GMV growth and increasing market share.

The main indicators of the US stock market showed an upward trend in the first half of the trading session. By 8:30 pm Moscow time, the Dow Jones Industrial Average was up 0.7% and the S&P 500 was up about 1.2%, while the NASDAQ-100 was up 1.7%.

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Oil.

Oil prices fell on Wednesday evening. The cost of futures contracts for Brent oil on the London ICE Futures exchange by 20:30 Moscow time was around $83.5 per barrel. The price of futures for WTI oil on the New York Mercantile Exchange by this time was about $79 per barrel.

U.S. commercial oil inventories for the week ended August 18 decreased by 6.1 million barrels, or 1.4%, to 433.5 million barrels, follows from the weekly review of the Energy Information Administration of the country’s Energy Ministry.

The strategic oil reserve in the United States for the week to August 18 increased by 0.6 million barrels, or 0.2%, to 348.948 million barrels. At the same time, the indicator still remains at the lows since August 1983.

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