The dollar and oil prices strengthened the ruble

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The Russian ruble today is adjusted in tandem with the U.S. dollar and the Euro, but fundamentally stored in both cases in a weak position. “American” is now trading at 70,06 RUB and loses 0.7 percent. Euro dropping 0.8 percent and stands 81,17 RUB Official rate of the Central Bank of the Russian Federation on Wednesday, 12 September, make 69,97 RUB per U.S. dollar and 81,39 RUB for Euro. Both estimates revised to increase, 11 and 72 kopecks, respectively.
The oil Tuesday afternoon trading in green. A barrel of Brent costs to date $77,98 (+0,8%), light Texas crude oil is estimated at $ 67,82 (+0,4%). Today and tomorrow, market attention will be focused on the publications of the American petroleum Institute and US Department of energy on oil reserves and petroleum products. The average forecasts based on survey results of Bloomberg, shows the probability of a decline in oil reserves for the week by 2.25 million barrels. At the same time stocks of gasoline and distillates could grow.
Among the interesting commodity news it is worth noting the increase in China’s purchases of oil in August. It can support the “bulls”.
Local panic on Russian currency market has passed, but the sediment remained. While OFZ sold, including due to cancellation of tomorrow’s auction of government securities, the fate of the “Russians” will remain under the threat of new failures, and they are, as observed yesterday the sale will be sharp and deep. The US dollar will finish today’s session at within marks 69,90-70,25, the Euro closes the day within the boundaries of 81.00 in comparison with 81.65 RUB.
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Anna Bodrova,
Senior analyst,
Alpari