The exchange rate will be determined after results of the meeting in Helsinki
The ruble was sharply corrected down on Friday evening to the basket. The pair dollar/ruble, rebounding from support near the 62 RUB, jumped to RUB 62,45 However, at the end of the trading week the Russian currency has remained in positive territory.
The pretext for the rollback of “Russians” was thrust to the fixed profit – the players decided to play safe ahead of the weekend, followed by a meeting between Putin and trump, and partially reduced long positions in the ruble, which last week in a moment touched highs of 25 may.
Traders are positive about the fact of the summit of the two countries, although do not have high expectations on its outcome. Presidents can exchange friendly remarks, but significant thaw in relations should not be expected.
Meanwhile, support for the ruble will obtain from the tax period, which is able to limit the potential negative side of the commodity segment. Brent ended with a decline for the second week in a row and continues to trade with a bearish bias in early trading Friday amid a further decline in concerns about the supply shortage. You should also pay attention to the dollar factor. Today, the States publish a report on retail sales, which will put pressure on the USD if the figure will reflect a slowdown. In this case, the ruble will have a chance to resume growth, although the main response will have to meet the leaders of Russia and the United States.
InstaForex companies group