It’s time for our weekly market psychology update with Jordan Kotick, Global Head of Technical Strategy at Barclays Capital. Kotick is currently travel through Russia and Eastern Europe.
Q. What is in focus in Russia right now given all the volatility?
A. While they are always aware of events and market moves from abroad, the ruble is never far from focus.
As you can see the chart below the Rubble was tightly correlated with equities, as were most of emerging market currencies. But that changed.