The exchange rate is not something to cling to, oil on the downside and the dollar is rising

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Russian ruble on Wednesday falls in a basket of currencies. Today it is almost nothing to catch the oil in the red, grinbek comes on all fronts in the global currency market. The US dollar to date is 61,62 RUB (+0.7 percent). The Euro is trading at 72,28 RUB (+0,3%). Official rates of the Central Bank of Russia for tomorrow, may 24, 61,59 make up a RUB for the American currency (increased by 33 pennies) and RUB over the 72,18 € (reduced 5 cents).
Commodity market today is in the area of correction. A barrel of North sea Brent costs $78,89 and falls by 0.9%. A barrel of Texas light oil WTI $71,73 (a-0.7%). Yesterday’s publication of API showed that the reserves of black gold in the week to may 18 fell by 1.33 million barrels. Gasoline supplies unexpectedly rose by 0.98 million barrels, distillate inventories declined by 1.32 million barrels. Today released a similar report from the US Department of energy, the average market expectation involves the reduction of crude oil reserves by 2 million barrels.
Attention should be paid to statistics on production of raw materials and export of: if these reports will be positive and growth data, selling in oil may increase.
Today is Wednesday, which means the Ministry of Finance holds its regular auctions on placement of OFZ. As usual, investors are offered two issue of securities, in this time, the total volume marginally exceeds 30 billion rubles. the Results of the placement yet, but, judging from the behavior of the ruble in the morning, the demand for duty again lagged behind expectations. I will remind that the auctions one week ago ended with a controversial applications for one twice the limit, and the placement of the second issue buyers managed to find a little more than half the volume.
The US dollar to close environment within the boundaries of 61.20-62,50, the Euro – in the range of 72-73 RUB.
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Anna Bodrova,
Senior analyst,
Alpari