The dollar, oil and the ruble came under a wave of strong sales

  • And
  • +A

The demand for risky assets in key global markets rose on Monday and persists in the morning on Tuesday. The MSCI Asia Pacific excluding Japan jumped 1%. Due to the weakening yen, the Nikkei 225 jumped 2.3%. In positive territory (+0.3%) traded futures on the S&P500. With the help of the reports of backroom negotiations between China and the United States to search for ways of settlement of commercial disputes. South Korea stands as an inspiring example, having the trade exception from import duties on steel and aluminum.
At the same time, the demand for risks hurting the American currency. The dollar index against a basket of 6 major currencies dropped on Monday, 0.5%, falling into the area of the lows of January-February. EURUSD and USDJPY added more pieces each, exceeding 1.2440 and 105.60, respectively.
Despite the weakening of the dollar, oil failed to sustain the gains. North sea Brent failed on Monday to settle above $70 per barrel.
The reversal of oil to reduce the pressure on the Russian ruble in the second half of the day. In addition, it pressured the news about the expulsion of Russian diplomats from several European countries and the USA. The USD / RUB pair at the start of trading on Monday, falling to 56.82, by the end of the active trading session on the exchange rose above 57.50. However, at the end of the day the EUR / USD pair decreased to 57.16. EURRUB ranged between 70.50 earlier in the day and 71.50 in the evening, and at the end of the day, the pair stopped at 71.15.
Difficulties with oil in passing the 70 mark per barrel is able to suppress the activity of rouble bulls. Today during the day, the ruble against the currency basket may freeze near the same level, but locally this can be for the growth of the dollar and weakening the Euro in the range of 20-30 cents.
Alexander Kuptsikevich,
Financial analyst,