Oil prices will push up the hurricane season, but the ruble will remain at the mercy of sellers

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The rouble on Tuesday continued multi-directional movement in the pairs with the dollar and Euro. It’s interesting that today he’s not responding to strengthening of positions of American currency on the world currency market. Per dollar by mid-session, the offer of 68.16 rubles (+0,05%). The Euro traded lower by 0.4% and 78,8 RUB Courses, the RF Central Bank on the next trading day, September 5, are 68,27 rubles per dollar and 79,02 RUB for Euro. Estimates increased in both cases, 53 and 39 cents respectively.
The sector of oil today draws attention to the sharp growth of activity of the “bulls”. The morning was calm, but by noon prices went up significantly. A barrel of North sea Brent crude rises in price by 1.3% and costs $to 79.15, light Texas crude oil is trading at $71,07 and rises by 1.8%.
It seems that the market is easily remembered events of a year ago, when the hurricane season in the Gulf of Mexico near the coast of the United States forced the manufacturers to stop the pumping and evacuation of technicians. This is the beginning of the season when a natural disaster forces complicate the production of the black gold, but investors are afraid of problems and supply disruptions.
Still on the website of the Ministry of Finance there are no messages regarding auctions on placement of OFZ. It’s not a good signal for the ruble in terms of evaluations of rice and demand, but it is likely that information will appear later.
The U.S. dollar closed the session on Tuesday in the hallway of 68.00-68,55, the Euro and finish in the borders 78,65-79,25 RUB.
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Anna Bodrova,
Senior analyst,
Alpari