Ruble shows cautious optimism at the end of the week
Russian ruble on Friday strengthened to a basket of currencies. US dollar losing 0.3 percent and is 61,17 RUB Euro fell 0.4 percent and is trading at of 72.65 RUB Official rate of the CBRF at the weekend and on Monday, June 4, 62,20 make up a RUB for the American currency and 72,71 RUB for Euro. Both estimates revised lower by 19 and 13 cents, respectively.
The commodity market at the end of the week moving in either direction. A barrel of North sea Brent crude costs to date of $77,84 (+0,3%). A barrel of light oil WTI declines of 0.6% and costs $66,64. Held on the eve of the expiration of the July futures on Brent, which caused a slight rolling in of North sea mix, but later the market has leveled off. Statistics from the US Department of energy reflected a reduction of oil reserves by 3.6 million barrels. Stocks of gasoline and distillates expanded 0.5 million and 0.6 million barrels, respectively. United States continues to increase the daily pumping of oil in a week it increased by 44 thousand barrels.
Statistics for oil is questionable, not to mention the fact that now the sector is reacting to seasonal factors, but it is too focused on speculative – like the June OPEC meeting in Vienna.
The US dollar to the end of the day is free to remain in the range of 62-62,65 rubles., with the repeated attack on the level of 61.95 RUB should be careful. However, it is unlikely the bears in the pair dollar/ruble is now resolved to the downside. The pair Euro/ruble will maintain its position within the boundaries 72.50 per person-73,25 RUB.