Oil price: the Verbal war between the US and Iran inspires “neftebitum”

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Russian ruble on Monday rises in price in a basket of currencies, but the dynamics does not look uniform and stable. US dollar on the world currency market remains under pressure because of the actions of Washington in the trade arena, but paired with the ruble, he is still in the usual framework vibrations, and a special attention is not attracted. By mid-afternoon, the U.S. currency reduced by 0.3% and is 62,78 RUB Euro on of 73.78 RUB (-0.2 percent). Official rates of the Central Bank of Russia for tomorrow, July 10, be of 62.83 rubles per dollar (reduced by 29 cents) and RUB over 73,93 € (increased 3 cents).
Investors are now a lot of reasons for reactions. On the one hand, the Ministry of Finance assumes in the next three years to significantly expand budget expenditures, including on social services and health care, but it is not very clear, where will the necessary money. Buying the currency and its use is good and familiar, but is it enough? On the other, the upcoming week a meeting of the presidents of the USA and Russia unnerving bidders, although there is more speculation than facts. The impact of this event on the local market, temporary. In this case, investors are waiting for evidence of “force of Russia” which supports the ruble.
The commodity market is teetering in uncertainty. A barrel of North sea Brent oil rises in price on 0,8%, and costs $77,76, a barrel of WTI is dropping in price by 0.2% and traded at $73,63. “Verbal war” between the US and Iran remains in this plane, but for stock bulls that is enough.
The US dollar will remain until the end of the day within they comprised 62.65-63,25 rubles, the Euro closed Monday at borders 73,75-74,15 RUB Medium ranges remain unchanged and amount to USD 61,50-64,0 RUB, Euro RUB 73-74
Anna Bodrova,
Senior analyst,