The ruble continues attempts to increase above a mark of 66

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After yesterday, strengthening 0.5 percent, the ruble continues to attempt growth at the auctions on Thursday. Now the pair dollar/ruble battle lines are drawn for the level 66 RUB, the outcome of which will determine the market forces. The surge of interest in buying risky assets due to the prerequisites for release of tension in trade relations between the US and China after the parties announced planned at the beginning of October negotiations.
It helps our currency and the dollar retreat after the recent rally, as evidenced by the rise of the European currencies on Forex. The return of demand for higher-yielding assets combined with dovish statements from fed officials broke dollar bulls, but they still hope for the resumption of growth. On Friday, the States publish key statistics on the labour market, which will make adjustments in expectations on monetary policy of the Federal reserve. Strong figures able to restore the attractiveness of the dollar and undermine the current proclivities of the ruble.
The threat of a resumption of the decline of our currency at the end of the week and says the behavior of oil prices. After failed attempts to breakout of the level 61, Brent retreated and is trading just above its opening levels after a 4% rally yesterday. In the case of positive data is not enough energy in reserves and production in U.S. oil quotes will continue to lose bullish momentum that could turn into a profit at attractive levels.
Gennady Nikolaev
Academy of management Finance and investment