New day brought weakness to Russian national currency and left those, investing in Facebook wondering what the stock is going to do now after Zuckerberg’s pledge before the Senate.
Zuckerberg pledges before the senate.
Co-founder of the biggest social network in the world Facebook Mark Zuckerberg was pledging in front of the senate yesterday and the speech was anticipated as no one could guess whether he will stand to apologize for the scandal with unlawful usage of network’s users’ data.
Zuckerberg stood to defend Facebook’s value in front of American Congress. He promised that all the mistakes will be corrected and all the holes in security system will be patched but both senators and the people are still questioning whether that truly is to happen. Defending all of the services which Mark overlooks he said that the only purpose for all of his products which now include Facebook, Instagram, Facebook Messenger and WhatsApp were created and are aimed to the one thing only – helping people communicate and “share a piece of content or a message with a specific set of people”.
Talking about leakage of users’ data to the third parties Zuckerberg admitted to having made a mistake and being sorry. Zuckerberg assured that he will do anything possible to ensure that the mistake of users’ data being used in fake news will never repeat itself.
Senator John Thune expressed the doubt which everyone was thinking saying: “After more than a decade of promises to do better, how is today’s apology different? And why should we trust Facebook to make the necessary changes to ensure user privacy and give people a clearer picture of your privacy policies?"
Russia and USA clash against chemical weapon usage.
Russian and American representatives in the unites nations have butted heads over the chemical attack on Syrian towns last weekend. Now US officials and Donald Trump are thinking of the ways to punish Syrian President Assad over the attack which happened amidst 7-year-long civil war ongoing in the country.
Donald Trump even had to cancel his planned trip to Latin American over the discussions of further actions on Syrian question. With this US and Russian representatives clashed during the latest UN session with US UN ambassador Nikki Haley saying that the photos of poisoned children are heartbreaking. Russian representative Vasily Nebenzya in his turn denied all the allegations over the attack. He also said that such relationship to Russia did not take place even during Cold War.
At the same time Pan-European air traffic control agency has given the advice to all the flight which are to fly over Mediterranean region to exercise caution while the missile attacks are a possibility over the next 3 days over that region.
Haley judged Russian actions saying that history will surely hold the record of Russian support of Assad’s regime, calling Syrian leader a “monster”.
Ruble extends the fall.
Russian national currency is not the best thing to invest in right now as today the plunge which was taken by the Russian currency yesterday is losing more price with the US sanctions getting into the pockets of the richest. Today ruble is at the weakest point since last November losing almost 8 percent of the price.
Amidst American sanctions yields on ruble debt are at the highest point in almost 4 months and investors are pulling money from the bonds. With the sanctions hitting different sectors of economy it is hard for investors to guess whether the next hit is going to be on the sector which is of interest to them and they choose to get their money out before it is lost.
Adding insult to injury there is a bill which is proposed to by the Congress that is going to ban purchasing of Russian sovereign bonds. Although it is possible that if accepted, the bill will damage US economy as well, but the question for now remains open.
For now ruble costs 64.345 ruble per dollar.
Stocks, currencies and crude overview.
With mixed performance in Asian stocks and the attention of American society turned form trading tension to the inflation report, European stocks went lower, and Treasuries yields went higher.
Stoxx Europe 600 index went down 0.3 percent.
MSCI All-Country World is less than 0.05 percent lower.
DAX Index from Germany are 0.3 lower.
MSCI Emerging Market Index is 0.1 percent lighter.
Dollar is less than 0.05 percent lower against the basket of six major currencies.
Euro is 0.2 percent higher - $1.2376 per dollar.
Japanese yen gained 0.2 percent – 107.01 yen per dollar.
WTI crude sank 0.5 percent - $65.19 per barrel.
Gold is at the highest point of $1.345.09 per ounce after 0.4 percent gain.
