The fall of the ruble today is limited

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Russian ruble on Monday is cheaper in a basket of currencies. The US dollar to date is trading at 63,26 rubles (+0,1%). The Euro is estimated at 73,50 RUB and rises by 0.25%. Official rates of the Central Bank of Russia for tomorrow, June 19, 63,48 make up a RUB for the American currency and 73,48 RUB for Euro. Both estimates revised to increase, by 80 and 95 cents, respectively.
Commodity market early in the week noticeable wobble. In the morning, the black gold fell sharply in the Wake of fears of investors about the upcoming OPEC meeting+ Vienna, where Venezuela, together with two middle Eastern countries it intends to block the likely decision of the cartel to raise production quotas. A barrel of Brent crude oil has now recovered in price and is worth $74,29, but it still does not exclude the possibility of a vigorous return to $72 if the negatives outweigh. For a barrel of light crude oil WTI on the site offer $64,79 (-0,1%).
The commodity factor in the next trading week will be one of the key to a world capital market. For the ruble it is very important the behavior of the dollar on the world stage: in the first half of the day grinbek crepe because of the risks of a new round of trade wars, now retreated.
In Russia starts working factor of the next tax period, the ruble will feel the support of this side. However, to overestimate its still not worth it because on the other side of the market weights too many divergent drivers, including mixed global sentiments to the currencies of developing economies and a pretty grim picture for the OFZ market.
The US dollar closed today’s trading day in the range of 63.00-63,95, the Euro and within the boundaries of 73,20-74,00 RUB.
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Anna Bodrova,
Senior analyst,
Alpari