After a lull in the financial markets, the autumn has brought
attention to several issues which strongly influenced the global
economy. Thus, the last few weeks have been rich in events that
influenced the evolution of the main macroeconomic indicators.
Among the most important centers of financial distress there
should be mentioned the Syrian conflict worsening, which
resulted in a significant increase in oil prices and the delay of
ending the monetary stimulus program of the Federal Reserve
System (Fed) in conjunction with the deepening problems of U.S.
public debt, which constituted the basis for the significant
depreciation of the U.S. dollar, while the opposite was expected.
Also, special attention was paid to monetary policy, especially in
emerging economies, given that several currencies have
depreciated significantly against the background of massive
capital outflows. It should be mentioned that inflation in most
economies is relatively low as a result of lower demand and lower
food prices. At the same time, the euro area is gradually coming
out of recession, which was the basis for optimism in financial
markets.