The Euro may rise against the ruble due to the oil

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The Euro during trading on Thursday on the Moscow stock exchange rose above the psychological mark of 74 rubles, which was the first time since June 21.
In early trading, the European currency rose to for 74, 05 ruble. At 11.45, the Euro strengthened against the ruble by 25 kopecks, reaching 73,91 ruble. The dollar by this time increased by 4 cents, to 63.27 ruble.
The weakening of the Russian currency is on the verge of declining oil prices, which followed the call of the President of the United States Donald trump to OPEC to reduce the price of gasoline.
It can be expected that against the background of a further decline in oil prices, the ruble may fall further by about 20 kopecks against the Euro to 74.2 of the ruble.
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Ivan Marchena,
Analyst
GK Forex Club