The dollar is rising and feels confident against the ruble and other currencies

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By mid-day trading on Monday, the Russian ruble slowed down to a basket of currencies after the explosive beginning of the session. To date, the U.S. dollar is reduced by 0.3% and 67,77 RUB Euro depreciates by 1% and is estimated at 76,27 RUB rates of the Central Bank of Russia on Tuesday, 13 November, be 67,52./is 76.09 USD and RUB/EUR. Both evaluations raised to 68 and 29 cents, respectively.
The ruble leapt up following a correction in oil. Last Friday, the black gold was updated at least seven months and touched the bottom at $69,13, but after the meeting of the monitoring Committee of OPEC+ investors cheered. Frankly, nothing special at this meeting did not dare, just the parties did not rule out the possibility of a return to the narrow production to rebalance the market.
At the same time, Saudi Arabia had talked about a pretty clear plan: in November, daily production will decline compared to October values, and by December oil producers will reduce pumping even more remarkable pace. Against this background, naturally, a barrel of Brent rebounded and is now worth $70,93 (+1%), although at the time oil rose in price more than on 2%.
The focus of market attention remains Friday other information from Baker Hughes the number of rigs in the United States. The indicator has increased by 12 units, which confirms previous observations about the growth of oil production in the United States. This is quite a bearish signal for the oil sector.
US dollar feels confident on the world stage, and once the emotional momentum in the oil exhausted itself, the U.S. currency will regain its temporarily lost in tandem with the ruble.
The dollar closed today’s trading in the range of 67,50-68,00 RUB, the immediate support is at the level 67,25, with its breakout will open the way to the RUB Resistance of 67.00 in turn is on a level by Gucci 67,95 RUB EUR/RUB will complete the day in the range of 76.00-76,85 RUB.
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Anna Bodrova,
Senior analyst,
Alpari