Expert of Kommersant Newspaper: US Dollar-Oriented Countries can Suffer Damage due to Decrease in US Main Stock Indexes
Azerbaijan, Baku / Trend corr K. Badalova / The most of the countries with economics oriented to US dollar can suffer damage due to rapid decrease in the US main stock indexes, the editor of International Policy Department at the Kommersant newspaper, Azer Mursaliyev, said on 30 July.
The US main stock indexes were traded with slightly decrease on 27 July during the most part of exchange session. However, the indexes rapidly decreased during the last half an hour and completed the day with high losses.On 26 July,Dow's blue-chip stock indexesdecreased by 311 points. As a result of the auction on 27 July Dow fell by 208.10 points to 13,265,470 or 1.54%. The index of broad market of Standard & Poor's 500 decreased by 23.71 points to 1,458,950 or 1.60%. The index of Nasdaq Composite dominated by technological companies decreased by 37.10 points to 2,562,240 or 1.43%.
"The main attention will now be paid to how the news will be apprehended. The economy of the United States has been experiencing not good times; the rate of dollar is constantly changing. Owing to this, other markets are more or less ready to this news," Mursaliyev said.
According to him, the fact that the news is expected and the markets are ready for it can relax the situation. "In this situation the rate of dollar will gradually rise, what will damage the countries oriented to the US market. In fact, oil maintains dollar," he said.
The prices for oil futures rose on 27 July against the background of favourable macroeconomic statistics of the United States. The results of the contract auctions at exchanges are as following: the official price of Light, Sweet Crude Oil futures (September) increased by $2.07 making up $77.02 per barrel at New York Mercantile Exchange (NYMEX), with the prices for deals for a session of $74.70-$77.12 per barrel; the official price for IPE e-Brent Crude futures (September) at InterContinental Exchange Futures (IСE Futures) in London increased by $1.08 comprising $76.26 per barrel, with the prices for deals for a session of $74.55 - $76.40 per barrel.
"The prices for oil have been rapidly increasing for a long time. On the other hand, dollar is devaluing and that affects its oil maintenance," Mursaliyev said.