The ruble began trading Thursday growth

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The Russian currency began trading Thursday with the strengthening of the dollar and the Euro. The impetus for the recovery to the highs of may was the combination of weakening demand for the dollar and a new leap in the oil market. However, it is a local picture which may change with the resumption of purchases of “American”, which remains in the ascending channel.
Oil has updated the highs of the end of 2014, and unsurprisingly, the commodity segment continued to digest the release of the trump of nuclear program with Iran, and assesses how this time, Tehran will reduce exports and production influenced by new sanctions. The optimism of the bulls in the oil market is particularly acute in light of the fact that the world market is already undergoing a process of rebalancing through the efforts of the OPEC countries+ and other factors, including the collapse of production in Venezuela because of the deep economic crisis. Reinforce bullish sentiment and the continuing geopolitical risks, especially in the middle East.
Prospects for further growth of oil look pretty durable, and the build-up of shale production is unlikely to offset the combination of these factors. But the question is whether the ruble to make use of this support. In addition to geopolitical risks for ruble crushes the strong dollar, which vigorously restore previously incurred losses on the world stage. Here everything will depend on the incoming statistics and mindsets in the camp of the Federal reserve. If the regulator deems it necessary to give the markets a “hawkish” message, it would prevent not only the restoration of the ruble, but in General will continue to reduce the attractiveness of assets in the developing segment.
In the short term, our currency is still a chance and pick up a little in price if the dollar will not cover the next wave of demand.
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Roman Blinov,
Head of analytical Department,
“International financial center”