Ruble hopes for a trade agreement the US and China

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Ruble slightly strengthened on Friday after opening with a gap up. The dollar has returned to a mark of 64 rubles, rebounding from the highs reached earlier this week in the area 64,40 RUB the Recovery of the Russian currency contributes primarily to the return of the interest to purchase risky assets amid some signs of progress in trade negotiations between the US and China.
Investors were inspired by the statements of economic White house adviser Larry Kudlow, who gave to understand that in a short time the parties can conclude an interim trade deal and noted the progress in resolving the dispute. That was enough to renew demand for vysokoporodnyh, including the ruble. But this does not mean that the current growth will have a significant continuation in the short term, because optimism can quickly unwind if the markets do not get fresh makeup.
At the end of the session, the impact on the dynamics of the pair dollar/ruble will have retail sales data in the US, and if the figures disappoint, the price will round up the week marked 64 RUB Also worth considering is the beginning of the tax period, which partially offsets the negative effect of the resumption of lower oil prices. After the morning growth attempts Brent returned under the mark of $ 62 per barrel, again attracting sales on the rise. The oil factor may limit the potential strengthening of the Russian currency in the short term.
Arseniy Dadashev,
Academy of management Finance and investment