Ruble rises against dollar and Euro

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The International Monetary Fund published its regular review of the world economy. According to this document in the current 2018 Russia’s economy according to the estimates of IMF experts, will grow by 1.7 percent in 2019, the forecast has been increased to 1.8%. Growth drivers of Russian GDP growth, analysts see energy prices, and increasing domestic consumption.
Meanwhile, the U.S. Treasury is preparing for government bonds. This week will be held a few auctions. Investors will be offered securities totaling more than $ 200 billion. At the current yield of U.S. government bonds look extremely attractive to investors. The General situation on the financial markets of the U.S. as we said earlier is a rather big threat to global financial stability.
The fed increases rates, however, we see a record for the last few years, the government yields, and the stock indices are near their maximum values. The dollar is also more expensive on the international currency market Forex. Such a dangerous mix, sooner or later can lead to a significant correction in the markets in the United States.
On this background the dollar exchange rate on the Moscow stock exchange is kept around 66 rubles 45 kopecks, the Euro traded at 76 rubles 20 kopecks. The MICEX index increased to 2475 points, and quotes of Brent crude oil again rose above $ 84 a barrel. Bitcoins according to CoinMarketCap continues to stay in the region of about $ 6,600.
This morning we see the strengthening of the domestic currency against the dollar and the Euro. This happens on the background of the rise in oil prices. However, despite the positive dynamics in the ruble, we keep our recommendation and believe that the range 65 to 66 rubles per dollar is good for purchases of American currency. In the medium term we do not see any prerequisites to reduce below 65 rubles to the dollar.
Gleb Zadoya,
The head of the analytical Department of the company,