Investors continue to move away from risk, the ruble is not sure in the future

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The Russian rouble is retreating slightly in a basket of currencies on Tuesday afternoon. The US dollar to date rises of 0.2% and is 57,59 RUB Euro on 70,78 rubles (+0,1%). Official rates of the Central Bank of Russia for tomorrow, April 4, comprise 57.53 rubles for the American currency and 70,92 RUB for Euro. Both estimates revised to increase by 25 and 32 kopecks, respectively.
The commodity market has stabilized after the failure of last night. North sea Brent blend costs $67,86 (+0,3%) per barrel. Today on the site we are waiting for updated data from the American petroleum Institute for oil and oil products. Average expectations based on the results of the poll by Bloomberg, expect growth of oil reserves of 1.6 million barrels. Stocks of gasoline and distillates likely fell, but more modest than it had been the week before.
In that case, if oil reserves actually increased, the market will get another bearish signal and the price of black gold could decline relative to current levels. If statistics will be neutral, prices remain in equilibrium. Do not forget that in the second half of the day, when the site will be overseas investors could resume the trend of avoiding risks due to the trade between the USA and China.
The ruble was not played yesterday’s rampant sellers in oil. Probably helped a relatively neutral factor in the dollar on the world currency market. Today in the foreign exchange sector is the same calm as before, so that side driver no. The U.S. currency is still important to gain a foothold above 57,85 RUB that on the way to 58,25 RUB per U.S. dollar, she is not obstructed. Today’s auction is for a pair dollar/ruble will be completed within the boundaries of the 57,45-of 58.00 RUB, and Euro/ruble – in the range of from 70.50-71,25 RUB..
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Anna Bodrova,
Senior analyst,
Alpari