31 jan
Announcement of a global emergency by WHO unexpectedly pushed markets up

The mood in the world markets changed the vector and the reason for optimism was what feared most: WHO announced the spread of coronavirus a global emergency.

On Thursday, January 30, the ruble took a significant hit: for the first time in six months, the euro against the ruble crossed the mark of ₽70 and the dollar was trading at ₽63.5. However, by the end of the day, the Russian currency was able to level some of the losses amid a sharp rebound in the US stock market.

 A good part of yesterday, markets were in panic. The spread of coronavirus and the possible negative consequences confused investors. Oil prices have fallen even more, Brent is already trading below $58 per barrel.

In the evening, the World Health Organization officially declared the spread of coronavirus a global emergency. However, the market reacted unexpectedly: instead of a predictable fall, quotations went up sharply.
Probably traders saw this as good news: they decided that security measures would be strengthened, and did not notice serious restrictions on transportation. Some way or other, markets calmed down. The ruble has also regained its positions. This morning USD/RUB pair is traded at the rate of ₽62.8997, while EUR/RUB, at ₽69.8101.

At the same time, the global economy is in danger, as evidenced by the decline in copper prices—this is one of the main indicators of the health of the Chinese economy. The shutdown of Chinese enterprises pushes demand for metals down, and since US and Chinese productions are strongly correlated, American stocks will also respond to it in the near future.