Donald trump has lowered the price of oil, the ruble was forced to react

  • And
  • +A

Today, the ruble retreats to a basket of currencies. The US dollar by mid-day Monday trading at 63,13 RUB (+0,5%). Euro rises in price on 0,3% and 73,49 RUB Official estimates of the Central Bank of the Russian Federation on Tuesday, July 3, enhanced for the dollar and the Euro and are 63,13 RUB per U.S. dollar (+38 cents) and RUB over the 73,46 EUR (+47 cents).
The main negative of the ruble carries the commodity market. A barrel of Brent, in the morning lost more than 1.2% by weight, to the present time somewhat slowed down, and partly recovered, but sellers are still strong. Now the barrel North sea Brent blend costs $78,66. Considering how high the level of volatility in oil, we can expect fluctuations of Brent in a broad range, from $77-$79.
Black gold reacted negatively to the opinion of Donald trump about the fact that Saudi Arabia needs to mobilize its capacity and increase production to 2 million barrels per day. In addition, the world is watching the situation with Iran, which by attracting private companies figured out how to circumvent the prohibitions of the United States and sell abroad energy. All this in a complex market such “white noise” that distracts from the essence of what is happening, but most investors focused on him.
The first of the July session for the U.S. dollar will end in borders 63.00-63,75 rubles, for the Euro – within the limits of 73.30-74,00 RUB.
___________
Anna Bodrova,
Senior analyst,
Alpari