Oil and the ruble are rising again in a couple

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Tuesday, April 16, has allowed the ruble to consolidate the gains of Monday and move “North” is much greater than in the first day of the week. By the close of trading Tuesday, the U.S. dollar calculations “tomorrow” fell by 15 kopecks (-0,22%) to 64,11 rubles, and Euro fell by 28 kopecks (-0,38%) to RUB 71,46 Thus, the single European currency for the first time since the beginning of the year broke below the mark of 72. and again he descended to the levels of July 2018. The strengthening of the ruble contribute to the outbreak of the tax period and the rising price of oil.
The price of Brent crude oil on April 16 began to rise again and rose by 0.78% to $71,46 per barrel. Report of the International energy Agency on global oil demand projected for 2019 was confirmed by the Agency at the level of 1.4 million barrels a day, has deployed oil prices back to the movement “to the North”. The IEA in its report noted that world demand for oil this year will remain stable thanks to growing demand in China and other Asian countries. In early trading Brent crude oil is rising again, this time price increases by 0.13%.
This morning, statistics released by the growth of China’s GDP in the first quarter of 2019. The celestial Empire, as is often the case, surprised everyone, as the pace of growth of its GDP for the first quarter at an annual rate not slowed down to 6.3% as expected by the market consensus and remained at the level of the fourth quarter and amounted to 6.4%. But on a quarterly basis for the first quarter of 2019. the pace of China’s economic growth expected to have slowed compared to the fourth quarter of 2018 from 1.5% to 1.4%. Thus, the trade conflict with the US not much impact on the Chinese economy. The data on China’s GDP can lead to continuing growth of oil prices.
We expect today at the opening of trading continued strengthening of the ruble. Cut the Outlook on the pair dollar/ruble to 63.8 and 64.9 RUB and Euro/ruble – to 71,8-73 RUB._____________________
Natalia Milchakova,
Deputy Director of information-analytical center “Alpari”