Ruble now have something to rely on

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The month of September sets the course of monetary policy. So in early September there was held a meeting of our Central Bank of the Russian Federation, where the decision on reduction of the key rate to 7%. Because the rate reduction it was expected the event, the markets have played, and witnessed considerable volatility, we did not. But one bet may not be the economic driver, as incomes for a long period fall, spend nothing special and the economy in the end will not get proper acceleration.
Ahead of the ECB meeting, which investors expect will be additionally announced the promotion of the European economy and the fate of the Europeans will be very bright. Because now macro-economic indicators such as business activity index volume of production assets in Germany, show a decline. Also tough scenario English Brexit pulls single currency to the South.
Ruble now have something to rely on. Confidence give him the oil quotes, which show the growth and in early September was placed OFZ maturing in 2039 20 billion, while demand was 60 billion, i.e. the demand is high enough. Therefore, at present our national currency feels relaxed. Tomorrow will be traded in the range 64.90-66.20 RUB/USD.
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Helen Frost,
Specialist of the analytical Department of the company
Finist