The dollar: the Ruble is waiting for the decision of the Bank of Russia
The Russian currency on Wednesday was retreating, but today in the early afternoon the situation favors shopping. The USD / RUB pair opened at the level of 66.25: to 9 cents lower than at the start of trading a day earlier. EURRUB increased by 18 cents, to 75.37, which is 16 cents below Wednesday’s closing. Also note that the single currency showed growth yesterday in the second half of the day amid positive dynamics of the pound.
The demand for risky assets – including the ruble – has received support, as the US and China continue to actively reduce the degree of tension in the trade dispute despite the incident with the arrest of the Treasurer of the concern Huawei. The anger of the middle Kingdom was directed against Canada, which resulted in the arrest of the former diplomat. However, this fact is by no means visible no effect on “trading truce” between the two largest economies.
Market participants repeatedly disappointed in the progress of the talks, but because this time purchase look relatively cautious.
Oil is not in a hurry to grow and also promises to contain the growth of the ruble: the Bent stocks in the US fell not so much as expected. In General, it is striking that the “black gold” in no hurry to add in the price, despite the positive background round of trade negotiations and the agreed limits on production within OPEC+.
However, for the Russian currency could be sufficient and growth in the global equity markets, so during the day we will wait for a cautiously positive attitude on EURRUB and USDRUB.
Later in the day, the focus of markets will be the ECB meeting, which could have a significant impact on the positions of the single currency. Tomorrow attention will shift to the decision of the Bank of Russia at a rate of and especially the accompanying comments.