26 May 2014
EMEA EM Express: Ukrainian stocks soar on succesful presidential election
FXStreet (Łódź) - As widely expected, billionaire chocolate tycoon Petro Poroshenko won a decisive victory in the Ukrainian presidential election, with former PM Yulia Tymoshenko finishing on a distant second position.
After the release of exit polls Poroshenko pledget to resolve the conflict in eastern Ukraine as soon as possible and announced that his first trip would be to the regions overcome by unrest, including the cities of Luhansk and Donetsk, where pro-Russian separatists took control of governemnt buildings and many roads.. In the 1 million city of Donetsk nobody was allowed to vote and in Luhannsk most of the polling stations were closed.
Russia's Foreign Minister Sergei Lavrov also commmented on the Ukrainian vote, saying that Moscow was ready to hold talks with Poroshenko, but called for toning down the military operation against the separatists in the eastern part of the country.
"Taking into account the expression of will that has taken place, which we respect, we will be prepared to establish pragmatic, equitable dialogue on the existing foundation - by which I mean the fulfillment of all existing agreements, including in trade and the gas sector," Lavrov assured.
Poroshenko's victory was a positive development for both the Ukrainian and the Russian bond markets, where yeilds were seen dropping.
Russia’s Micex Index climbed by 1.2% to 1,455.59 while the Ukrainian Equities Index soared 4.9% to 1,233.73, the most worldwide. It was the highest level recorded by the index in two years.
Economic data
The Polish Central Statistical Office informed on Monday that on a monthly basis Unemployment has decreased to 13% in April from 13.5% recorded in March, slightly missing expectations of a decline to 12.9%.
Polish annual Retail Sales grew 8.4% in April, up from the 3.1% increase the previous month and below forecasts of +9.1%.
Turkish Foreign Arrivals jumped to 8.2% in April, from 0.6% in March, according to data published by TurkStat.
Technicals
The Ukrainian hryvnia was up 0.3% at 11.915 against the greenback on Monday.
On Friday, ahead of the elections, the USD/UAH daily FXStreet Trend Index was strongly bullish, with the OB/OS Index neutral. RSI was at 56 at the last close.
The Russian ruble was little changed against the central bank’s target dollar-euro basket at 39.7695, as well as against the dollar, at 34.17. It fell against the euro by 0.1% to 46.6355.
On Friday the USD/RUB daily FXStreet Trend Index was slightly bearish, with the OB/OS Index oversold. RSI was at 26 at the last close, and has climbed to 59 so far today. Daily 2-StDev Volatility Bandwidth was expanding at 5355 pips, with ATR (14) shri
After the release of exit polls Poroshenko pledget to resolve the conflict in eastern Ukraine as soon as possible and announced that his first trip would be to the regions overcome by unrest, including the cities of Luhansk and Donetsk, where pro-Russian separatists took control of governemnt buildings and many roads.. In the 1 million city of Donetsk nobody was allowed to vote and in Luhannsk most of the polling stations were closed.
Russia's Foreign Minister Sergei Lavrov also commmented on the Ukrainian vote, saying that Moscow was ready to hold talks with Poroshenko, but called for toning down the military operation against the separatists in the eastern part of the country.
"Taking into account the expression of will that has taken place, which we respect, we will be prepared to establish pragmatic, equitable dialogue on the existing foundation - by which I mean the fulfillment of all existing agreements, including in trade and the gas sector," Lavrov assured.
Poroshenko's victory was a positive development for both the Ukrainian and the Russian bond markets, where yeilds were seen dropping.
Russia’s Micex Index climbed by 1.2% to 1,455.59 while the Ukrainian Equities Index soared 4.9% to 1,233.73, the most worldwide. It was the highest level recorded by the index in two years.
Economic data
The Polish Central Statistical Office informed on Monday that on a monthly basis Unemployment has decreased to 13% in April from 13.5% recorded in March, slightly missing expectations of a decline to 12.9%.
Polish annual Retail Sales grew 8.4% in April, up from the 3.1% increase the previous month and below forecasts of +9.1%.
Turkish Foreign Arrivals jumped to 8.2% in April, from 0.6% in March, according to data published by TurkStat.
Technicals
The Ukrainian hryvnia was up 0.3% at 11.915 against the greenback on Monday.
On Friday, ahead of the elections, the USD/UAH daily FXStreet Trend Index was strongly bullish, with the OB/OS Index neutral. RSI was at 56 at the last close.
The Russian ruble was little changed against the central bank’s target dollar-euro basket at 39.7695, as well as against the dollar, at 34.17. It fell against the euro by 0.1% to 46.6355.
On Friday the USD/RUB daily FXStreet Trend Index was slightly bearish, with the OB/OS Index oversold. RSI was at 26 at the last close, and has climbed to 59 so far today. Daily 2-StDev Volatility Bandwidth was expanding at 5355 pips, with ATR (14) shri