Investors sell the the ruble, fearing the oil turbulence

  • And
  • +A

The ruble resumed its decline on Thursday after a brief respite, although the pressure is moderate, since the negative side of the rising dollar and falling oil partially kompensiruet tax period of the weakening thrust of defense assets in international markets.
That the main factor of pressure on the Russian currency acts as a bullish trend in the dollar, evidenced by more modest dynamics of the Euro/ruble, which is trading with a downward bias.
“American” meanwhile highs this year against the European currencies and generally increasing across the entire spectrum of the market. The nourishment he receives amid care players because of the threat of a trade war. Locally, the currency was supported by yesterday’s announcement by the Federal reserve Chairman Jerome Powell on there are strong arguments in favor of further rate hikes in the US.
Their contribution to the dynamics of the “wood” is making the oil. Here continue to sell within the framework of profit-taking, which seems quite logical, given the “confusion and vacillation” in the camp of the OPEC+ before the summit, which will take place on Friday and Saturday. In connection with this risk factor and the persistence of the correlation, though less close, of the ruble with oil, the players likely will prefer to exit the market in times of turbulence and wait for the results of the meeting “on the fence”. It is a factor in favor of further profit taking on the Russian currency until the end of this week.
Roman Blinov,
The head of the analytical Department of the company,
“International financial center”