Ruble, oil, and OFZs fell into the bearish zone

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Russian ruble on Wednesday, retreats to a basket of currencies. The U.S. dollar is trading at 62,79 RUB and adds 0.5 percent. Euro rises in price on 0,3% and 73,35 RUB Official rate of the CBRF for tomorrow, August 2, 62,55 make up a RUB for the American currency and 73,10 RUB for Euro. Both estimates revised to increase by 21 and 3 pennies, respectively.
Today’s auction the Ministry of Finance of the Russian Federation on placement of OFZ are much more modest than previously. The results of the sale of the first issue 25083: with the limit of RUB 20 billion, the demand amounted to 38.3 billion rubles Placed under RUB 13.1 billion of 7.45% with a premium of about 5 basis points. It is much more modest than it was last week. The second of the planned issues limit less RUB 15 billion, and it is possible that the picture with the demand for this debt would be similar.
In all likelihood, spot the tightening of a package of anti-Russian sanctions from the EU due to the involvement of companies in the construction of Crimean bridge not be passed by international investors, which reduced the interest in the OFZ because of some of the intensification risks. Hanging in the air and the US desire to “upgrade” the anti-Russian sanctions, but the evidence on that point yet.
Commodity markets were in “bear” zone. A barrel of Brent falls in the middle of the session 1.5% and costs $73,06, a barrel of WTI settled at 1.3% and is trading at $67,88. First of all, the reaction to the API report, where was reflected the growth of oil reserves by 5.59 million barrels, contrary to the expectation of reduction. Today, the market is eagerly awaiting the release of the report US Department of energy, the average prediction based on the results of the poll by Bloomberg, shows a reduction of 3.0 million barrels. If the reality coincides with the expectation stabiliziruemost and oil will cease to fall. If the release will show growth stocks, the price of a barrel of black gold “fly” down the acceleration.
The US dollar will finish today’s trading range 62,50-63,45, the Euro closes the day in the hallway 73,10-73,85 RUB.
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Anna Bodrova,
Senior analyst,
Alpari