Oil: trump thanked the Saudis for the decline in world prices

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Donald trump thanked Saudi Arabia for the decline in oil prices, speaking to American journalists. However, the American President stressed that “prices should be significantly lower.” It is quite a negative factor for the oil market, as a consequence for the Russian economy and the Russian financial market.
Meanwhile, Elvira Nabiullina, speaking in the Duma, said about the risks of short-term inflation to a double digit number. In the opinion of the Central Bank this could happen if falling oil prices to $ 35 per barrel. Thus Elvira Nabiullina reiterated its stance on monetary policy. She believes that in the current environment, the OST should be moderately hard.
On this background the dollar exchange rate on the Moscow stock exchange is kept around 65 rubles and 90 kopecks, the Euro traded at the level of 75 rubles 5 kopecks. The MICEX index holds near 2345 points, and oil quotations of mark Brent fell below 64 dollars per barrel. Bitcoins according to CoinMarketCap recovered within 3% and is kept at 4600 dollars.
The fall in oil prices could not remain unnoticed for the domestic currency. Yesterday we saw the fall of the ruble against the dollar and a slight weakening against the Euro. Previously, we have repeatedly talked about the expediency of buying the U.S. currency in the range from 65 to 66 rubles per dollar. Most likely at the end of the year we are waiting for offset trading in the range of from 67 to 68 rubles. However, we do not exclude a possibility of a breakthrough up to 70 rubles per unit of American currency.
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Gleb Zadoya,
The head of the analytical Department of the company,
ANALYTICS Online