Ruble tries to ignore falling oil prices
The situation on world financial markets in the second half of the day looks more or less stable. European stocks traded in a good advantage of with an eye to the lull on the trade front, after the stabilization of the Renminbi.
U.S. futures rise modestly after yesterday’s rise. The Russian indexes also rising, despite the drop in oil prices. Brent is trading at the January lows, threatening the mark between 58.50 per barrel.
The ruble also successfully ignores the bearish signals the market of black gold, and even manages to look better than their colleagues in the developing sector. Part of the role of a “sense of relief” on the sanctions front. Previously, investors were pricing in the hard scenario, but the restrictions were less severe and in the domestic market due without prolonged sales.
Dollar/ruble, updating earlier in the week, 2-month highs on the 65,38 RUB, gradually slid to a key level 65 RUB.. where he settled. Most likely, in the nearest future the price will continue to oscillate around the level waiting for fresh drivers. A deeper drawdown of oil will return the pair above 65 rubles.
In the longer term, to limit the pressure on the ruble and the assets of EM countries as a whole may monetary policy easing by global Central Banks. Today, the camp of pigeons joined the RBNZ, which lowered the rate from 0.5%. Previously, we recall, the fed has lowered the cost of lending for first time in over 10 years. And the ECB has signaled readiness to expand stimulus, possibly as early as September.
Academy of management Finance and investment