The Russian stock market found support after a direct exchange between President Vladimir Putin and President Donald Trump, signaling renewed diplomatic dialogue and potentially easing risk sentiment. Investors pointed to the Moscow Exchange as a barometer of confidence, with buying interest broadening across sectors as traders priced in a more constructive tone for Russian-U.S. relations.
The ruble strengthened against the U.S. dollar, trading around the mid-90s rubles per dollar, a level that helps exporters and importers alike. In response to the overall optimism, MOEX moved higher, with the index near 3,100 points and peaking through the day beyond 3,120 points.
On February 12, the two leaders spoke for about 30 minutes, focusing on how to move bilateral ties toward stability and how policy differences might be managed. The Kremlin press service reported that the call touched on reducing hostility and the importance of avoiding escalation, while Putin stressed that a durable settlement would require continued dialogue led by both capitals.
There was mention of a possible visit by Trump to Moscow in the future, signaling ongoing interest in high-level diplomacy between the two capitals. Analysts noted that negotiations would typically run through established channels in Washington and Moscow, with senior officials coordinating on security, sanctions, energy, and Ukraine policy.
Observers also recalled that market reactions often reflect evolving expectations about sanctions policy, energy markets, and geopolitical risk. In the Ukraine context, Putin emphasized addressing root causes and the pursuit of a long-term settlement through sustained American-Russian engagement. Trump indicated willingness to explore avenues for stabilization and cooperation.
Overall, the day underscored how diplomacy can translate into market moves. While the tone appears cautiously optimistic, analysts warn that tangible steps and verifiable actions are required to maintain momentum. Investors in Canada and the United States will continue to monitor headlines, official statements, and macro data for signals about future diplomacy and financial trends.
Beyond diplomacy, traders weighed the implications for energy supply, commodity prices, and Western sanctions. A constructive dialogue could influence oil and gas pricing, currency stability, and cross-border investment flows, benefiting sectors tied to energy, mining, and manufacturing within Russia while affecting Canadian and American investors monitoring commodity markets.
The broader geopolitical environment remains a key driver for risk sentiment across North American capital markets. Banks and fund managers in Canada and the United States were watching for concrete policy signals, such as proposed roadmaps, dates for next high-level meetings, or terms for resumed discussions on trade and security guarantees. In the meantime, domestic data and central bank statements will continue to shape the trajectory of the ruble and the MOEX index in the near term.