The ruble and the dollar continue to struggle due to the oil instability
At the start of the session on Monday, the ruble has attempted to further growth, but have subsequently lost almost all the advantage and finished in a symbolic positive territory. The pair dollar/ruble, which again received support close to 64 rubles, was closed in the area 64,25 RUB, screened within 0.1%.
The ruble failed to push the dollar to new lows mainly due to the corrective sentiment in the oil market.
Brent moderately retreated from 5-month highs to some reduction in geopolitical fears. Today the quotes of black gold continues a correction, again testing the level 71 that may adversely affect the behavior of the Russian currency in the beginning of the session.
The dollar, meanwhile, felt confident in the second half of the day and kept neutral on Tuesday, which, coupled with pressure on oil prices may lead the pair dollar/ruble in the direction of the field 64,50 RUB In favor of this scenario says, and the deterioration of investor sentiment towards risk on stock markets of the world after poor reporting of large American banks.
Gennady Nikolaev, Expert,
Academy of management Finance and investment