The dollar was confidently fixed above the level 62 of the ruble

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The ruble had bid Monday with no significant changes. The dollar has steadily entrenched above 62 rubles., in the moment of touching a 9-day high of 62.42 RUB, continuing to strive towards the mark of 63 RUB EUR/RUB dipped slightly against the background of falling of the single currency to new six-month lows against the dollar. The quotes remained above the level of 72 rubles.
The Russian currency lost the local support of the tax period, waiting for new signals that will be formed out of the moods in the raw materials segment and the dynamics of the dollar. As for the oil factor, before Brent was able to significantly reduce losses in the morning trading in a consolidative mode. However, from a technical point of view the risk of a bearish correction. In addition, the market has not fully digested the signal of an impending increase in OPEC production+. So on that front, now come downside risks for the ruble.
The dollar traded near the highs of the year, and kickbacks are a short-term and limited in nature. This confirms the integrity of the bullish trend, which can receive a fresh impetus this week if data on GDP and employment in the United States will delight and confirm the appropriateness of more vigorous fed tightening. In the short term it is not excluded attempts to strengthen the ruble, but they are likely to be short-term and insecure. A key goal for the pair dollar/ruble – RUB 63
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Igor Kovalyov,
Analyst
InstaForex companies group