The dollar is kept afloat

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In the second half of the day, global investors have not shown interest to purchases, sending European stocks into negative territory. In General, trades are sluggish nature in connection with holidays in many countries around the world, including presidents Day in the United States. On this background the Russian stock markets oscillate around the opening, not daring to coherent motion in the absence of significant drivers. From the point of view of economic events next week will be relatively boring, and the main release will be the publication of the minutes of the previous meeting of the Federal reserve on Wednesday.
Taking advantage of the lull in global platforms, the dollar is holding up after Friday’s rise, which was largely associated with the release of adequate data on the construction sector of the United States. Market participants are gradually switching to the upcoming fed minutes, which can give additional impetus to the dollar.
The U.S. currency continues to remain in line with the bearish trend, using the demand only on the deterioration of sentiment in the segment of risky assets. Today vysokoporodnyh not attract buyers, which means that the dollar is trying to stay in positive territory against most currencies, including the yen. However, judging by the restrained impulse to rely on more active recovery to expect in the short term is not worth it.
The ruble is in these circumstances decided not to continue its growth, having lost support from the commodity segment. The pair dollar/ruble is trading with a slight increase, but the moves are limited to close range, which is also a consequence of reduced liquidity. Brent was unable to build on the success and went back under the mark 65, reflecting the relative stability of the dollar and another increase in the number of active drilling rigs in the United States. To improve the short-term technical picture of the assets necessary to gain a foothold above the level of 65 and test the highs in the area of 65.40.
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Sergey Kostenko,
Investment analyst
GLOBAL FX