Careful, the ruble rising against the dollar and the Euro, but can be broken down
Monday, April 15, the ruble again gently rose against the dollar and the Euro. By the close of trading, the U.S. dollar calculations “tomorrow” lost 9 kopecks (-0,13%), falling to 64,26 rubles, and the Euro fell by 8 kopecks (-0,11%), to RUB 72,62
Unpredictable US President Donald trump over the weekend wrote a sharp post on Twitter criticizing the fed, effectively enough, in his opinion, performing its functions. According to trump, if the fed were doing their job “properly”, that is more actively reduced interest rates, the US stock market could rise by another 5-10 thousand points, and the pace of US GDP growth could rise to 4% per year.
On Monday, Trump actually said the ECB President Mario Draghi, who said that worries about the independence of Central banks in the world, if we are in “the most important jurisdiction in the world” trying to limit the fed’s independence. This discussion on Monday only contributed to the drop in U.S. stock indexes and the weakening of the dollar.
Meanwhile, the price of Brent crude on Monday fell by 0.32% to $70,91 per barrel. Lower oil prices contributed to the statement of the US Department of energy that in 2018 the United States nearly doubled the export of oil, which reached 2 million barrels a day and oil production in 2018, broke the record of 1970, reaching the level of almost 11 million barrels per day. This morning the price of Brent crude continues to fall, at the moment, the barrel loses value of 0.4%.
We expect the opening of trading on ruble pairs today in negative zone. Our Outlook for the pair dollar/ruble in 64-65 RUB remains unchanged same as for the EUR/RUB, where we’re waiting for the interval 72-73,2 RUB.
Deputy Director of information-analytical center,