Oil is down, the trade war continues, but it doesn ruble

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Chart of the day by day moves without a single idea in a basket of currencies. The US dollar to the middle of the day is 62,30 rubles (+0,1%). Euro retreats of 0.3% and is trading at 72,42 RUB Official rate of the CBRF at the weekend and on Monday, July 16, 62,29 make up a RUB for the American currency (raised to 9 cents) and RUB over the 72,46 € (reduced 22 cents).
The ruble afloat even with the volatility in oil and a significant market fears that a trade war between China and the United States will not affect third countries. The main secret of this stability of ruble – the expectation of a present United States and Russia, which will take place on Monday. “Buy the rumor” – it is a market axiom has shown itself this week in full force. Now the main thing that on the facts the market is not moved exactly in the opposite direction.
Raw, meanwhile, was back in the minor area. A barrel of North sea crude oil grades Brent traded at $73,94 and falls by 0.7%. Sales are on WTI, but not so actively. Tonight, we’ll see new data on the number of drilling rigs from Baker Hughes, last week the rate has increased and it is possible that will feel good for this.
While the ruble has something to cling to, a serious change of local trend, we will not see. The US dollar closed trading on Friday within 62,10-62,85, the Euro finished the week in the range 72,20-of 73.00 RUB.
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Anna Bodrova,
Senior analyst,
Alpari