The dollar is rising and pushing the ruble lower
The Russian market continues to attempt a rebound, but investors do not show much enthusiasm, despite the rise of other sites, where growth momentum stocks gave news from China. Bank of China announced a reform of the mechanism for setting interest rates, supporting expectations of incentives from regulators in General. In the second half of day the index of Masuri who feels more confident due to the weakness of the ruble, adds up to 0,66%, while the RTS for the same reason, fell back after the morning leap and settled near opening levels.
The dollar, meanwhile, came close to the next milestone in the form of a mark of 67 rubles. and continues to prevail over the ruble, growing up the fourth session in a row, despite the lack of negative signals from the oil market, where Brent quotes konsolidiruyutsya marked $ 59 per barrel. Also, our currency has not yet felt the support of the tax period players continue to liquidate long positions accumulated earlier.
In Forex, the dollar is trading mixed. The Euro is trading slightly higher, stuck at around 1.11 after the release of weak inflation data in the Eurozone and dovish comments from one of ECB officials. Later in the week attention will shift to the fed minutes and the ECB, and the main event will be a Symposium in Jackson hole, which set the tone for the markets at the end of the trading five-day week.
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