The ruble continued to strengthen and this is not the limit

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Russian stock indexes finish trading session by growth. Index Mosberg adds 1% (2302), the RTS index is growing at 1.5% (1081) the leaders of growth shares of SAFMAR and NOVATEK, in leaders of falling “Yunipro” and “Surgutneftegaz”. The market situation is rather favourable for further growth. Ahead of the period of publications of financial statements, the strong results of the Russian companies will support the index Mosberg.
The ruble continued to strengthen on Monday to the happiness of the citizens at the end of the day for one dollar offer 67 rubles, one Euro – RUB 78 the probability that the pair will return to the levels of early August are very small, however, further strengthening is still possible. Additional support to quotations render the rise in oil prices, which is associated with the positive statistics from the USA. Last week, the country showed a decline of commercial stocks and the number of drilling rigs.
The Euro continues growth, but how long will the rally of the European currency is not clear. Today was rather poor on statistics. However, Germany presented positive data: business climate index of the country rose from 101.7 to 103.8. Against this background, the pair has risen to 1,165. The pair potential is not exhausted, tomorrow has the opportunity to continue growth.
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Anna Kokoreva,
The Deputy Director of analytical Department,
Alpari