Financial markets are bogged down in politics
The ruble has gone into growth, taking advantage of a temporary weakness of the dollar, which came under attack because of the departure of Rex Tillerson to the post of U.S. Secretary of state. As his successor President Donald trump has nominated CIA Director Mike Pompeo, known for his hawkish views on key issues of global politics.
Support for the Russian currency has an interest of market participants to domestic government securities, as well as buying exporters in the approximation of the tax period.
Oil, meanwhile, traded in the “green zone” digested yesterday’s report by the American petroleum Institute (API), according to which stocks of raw materials in the U.S. last week rose 1.156 million barrels. The analysts predicted that inventories will rise by 1.5 million barrels. If the statistics from the energy information Administration (EIA) will present no surprises, quotes of “black gold” will remain in the current range and will not have a significant impact on the currency market.
Expected trading range for today is 56.25 – 57,25 RUB/USD.
Head of Directorate of financial markets
The Ural Bank for reconstruction and development