The dollar confirms the 63 ruble, oil confused

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After mostly negative dynamics on Asian stock exchanges, where the exception was shares of Australia and China, Europe has opened in negative territory amid the ongoing deleveraging of risk. In leaders of decrease – indexes of Italy and Spain against the background of political problems. The overall mood of investors remains cautious, primarily because of the political crisis in Italy, as well as uncertainty with regard to the alleged summit of the US-DPRK.
After the foreign grounds, the Russian stock indices demonstrated mixed dynamics. RTS moderately declines amid further weakening of the ruble, which has been falling for the fifth day in a row. The dollar reached highs of mid-may in the area 62,67 RUB, Reaffirming the commitment to RUB the mark 63 the U.S. currency continues to advance on the international arena, which presses including on the ruble, which was left without support from the tax period of the oil market.
Quotes of Brent oil konsolidiruyutsya with a bearish bias after yesterday’s collapse to 3-week lows. The market continues to play messages about the plans of OPEC to increase production to compensate for the supply reduction from the problem of Iran and Venezuela. In connection with yesterday’s holiday in the US publication the weekly statistics on oil reserves is shifted by one day. Accordingly, the API data will be released on Wednesday, and the official report of the energy Ministry released on Thursday. Short-term technical picture points to continued downside risks to Brent.
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Sergey Kostenko,
Investment analyst
GLOBAL FX