The rouble can fall in price at the end of the week
The ruble strengthened slightly against the dollar at auction Thursday. Helped the indecision of the American currency on international markets, coupled with high oil prices. The pair dollar/ruble, which in the time tried to test the level of 63 RUB, finished slightly below the psychological mark.
The Russian currency continues to trade consistently in the usual range, not daring to more active movement in a particular direction.
The consolidation, which is centered around RUB 63, due to the presence of opposing factors. On the one hand, the dollar began to signal exhaustion of momentum in the direction of the bullish trend, while strong oil prices are holding back the pressure on our currency. On the other, there is a General tense atmosphere in the segment of risky assets in General and emerging markets in General, and it suppresses attempts to strengthen the ruble.
Today, July 6, the U.S. imposed duties on imports of goods from China. Beijing has promised to respond mirror measures. Throw in trump’s attempts to put pressure on OPEC and oil prices, as well as gathering statistics on the American labour market, and develops the picture, suggesting a cautious attitude towards risky assets, including the ruble.
Given the formal weakening of Brent and the continuation of the decline this morning, “Russian” with likely lower open Friday not in the best mood. So, the dollar has all chances to close the week above the level of 63 RUB.
InstaForex companies group