The oil price lost another 1.5% on weak data from China

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The price of oil on Monday 28 January 15.27 GMT were down 1.5% to 60,70 dollars per barrel for Brent. “Black gold” remains under pressure from weak statistics of China. In December last year, the profits of large industrial enterprises in China fell by 1.9% year on year to 100.9 billion. The downward trend lasts for two months in a row.
In addition, the us oil service company Baker Hughes, a GE Company has recorded last week the increase in the number of active oil rigs in the United States for ten to 862 units.
Ruble a day, little changes to the main reserve currencies on the backdrop of conflicting signals. On the one hand, oil can not confidently to gain a foothold above the psychologically significant aranwa $ 60 per barrel, and is negative for the Russian currency. On the other, geopolitical risks for the rouble fell after the withdrawal of the US Treasury sanctions on Russian companies: RUSAL, En+ and “EvroSibEnergo”. This remained in effect all sanctions against Oleg Deripaska, previously controlled these companies.
In the end, 15.24 MSK the dollar and the Euro rose against the ruble since the start of trading in the range of 0.1% each to 66,04 ruble and ruble 75,36, respectively. Until the end of the day, the U.S. currency will fluctuate in the range of 65.6-66.6 ruble, the Euro – in the corridor 74,6-76 rubles. The price of oil in rubles remains approximately round the 4000 mark per barrel for Brent.
Ivan Marchena,
GK Forex Club