The dollar rose sharply against the ruble

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On Tuesday, August 27, the auction on ruble pairs closed higher. The Russian currency has fallen against the dollar by 0.56% to 66,44 RUB, EUR/RUB – on 0,54%, to 73,68 RUB, GBP/RUB – on 1,29%, to RUB 81,74
The ruble weakened against foreign currencies from the opening of trading on Masuria. In the European session, the dollar rose to 66.70 RUB due to the continuing unstable situation on the stock exchanges of the trade confrontation between the US and China. Yesterday, investors again went into protective assets, since was skeptical about the optimism of Donald trump about the possibility of concluding a trade agreement in September.
Trump on Monday said that he got a call from China to return to the negotiating table. Foreign Ministry spokesman of China said that no phone calls were not.
Wednesday, August 28, Asia’s oil is traded in minus 0.37%. I think the price reduction is not critical for the domestic currency market, since Tuesday, oil has risen by 2.25% and the ruble ignored the increase due to geopolitics.
A positive factor for oil was the last report of the American petroleum Institute (API). According to recent reports in the U.S. for the week to 23 August, oil stocks fell by 11.1 million barrels, gasoline inventories – by 0.3 million barrels, distillate stocks – by 2.5 million barrels. Today, the official report will present the US Department of energy. If the data coincide with the data API, then the recovery price will continue to $61,30.
The ruble will remain under pressure due to the weakening of the yuan. Also today he will lose the support from tax period. The peak of tax payments has passed. On Wednesday, the company will pay the profit tax and the tax period is fully completed. Of it remain today’s auction the Ministry of Finance of the Russian Federation totaling RUB 20 billion Trigger sharp fluctuations in the prices of oil, gold, stock market tweets are trump.
Today in early trading in the currency section of Mosuri the dollar and the Euro show a symbolic reduction. The pair dollar/ruble will remain sideways movement around 66,50 RUB, EUR/RUB – about RUB 73,65
Vladislav Antonov,
“Information-analytical center “Alpari”