A trade war would support the dollar, the ruble will fall

  • And
  • +A

Monday, September 17, at the end of the trading session on the Moscow exchange rate of the us dollar calculations “tomorrow” increased by 1 kopeck (+0.01%), to 68,06 Euro 39 kopecks (+0,50%), to 79.49 RUB.
Trading on ruble pairs resulted in a slight decline. Against the greenback, the ruble has moved 1 COP Price stood at the level of Friday’s close amid a General weakening of the American currency on the Forex market. At least the major currencies strengthened against the dollar, the currencies of developing countries were under pressure from the decline in interest of market participants to risk-weighted assets. The ruble advanced interference created cheaper oil.
Technically the pair dollar/ruble can be trapped in a price corridor 67,40 – 68,70 to September 27. Oil is adjusted, the US President, Donald trump has signed the decree about introduction of new tariffs on imported U.S. goods from China. Began another round of a trade war. Investors, though accustomed to the rhetoric of trump, but trade wars are no good for other countries. Trump said that if China responds to them, the States will launch a third wave of customs duties.
The Euro/ruble, most likely, today the movement will keep on the level 79,58 RUB price Technically nothing prevents to move to the next price level to trade at 78,45 RUB.
_____________
Vladislav Antonov,
Analyst
Alpari