Oil based on the Iranian factor, the ruble is waiting for the decision of the Central Bank at a rate
The price of oil (November futures) on Monday 10 September to 14.57 increased by 0.3% to 77,06 per barrel for Brent.
The market of “black gold” receives support from data of Baker Hughes, a GE Company (BHGE) to reduce the number of active oil rigs in the United States on two pieces to 860 units for the week ended 7 September.
In addition, the reduction in the supply of Iranian oil to the world market because of U.S. sanctions also adds a premium in the oil quotes. On the reduction of Iranian oil exports, said India, Japan and South Korea.
The ruble on Monday remained under pressure and has updated lows against the dollar and the Euro from March to February 2016, reaching marks 70,5125 81,605 of the ruble and ruble, respectively.
Negative dynamics of currency exchange rates in emerging markets, the recent and intrigue with the upcoming Friday the decision of the CBR’s key rate is pushing speculators to attack on the ruble. The regulator seems ready to increase this indicator, however, the government (Dmitry Medvedev), and even the administration of President (Andrei Belousov) want low interest rates, and this disagreement may be one of factors of pressure on the ruble.
In the end, dollar to 14.55 GMT increased from the start of trading 0.3% to 70.1 of the ruble, the Euro by 0.4% to 81,15 of the ruble. The ruble price of a barrel of Brent crude exceeds 5.4 thousand.
Until the end of the day, the U.S. currency will be in the range of 69.5-70.7 ruble, Euro – in the hallway 80,45-81,85 of the ruble.
GK Forex Club