The ruble continues rally, but not as active

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Thursday, may 16, the ruble continued to rally, but it hasn’t really been as triumphant as the day before. At the close of trading Thursday, the dollar calculations “tomorrow” fell by only 1 COP (-0,007%) to 64,645 rubles, while the Euro continued to decline and eventually fell by 21 kopecks (-0,28%), to RUB 72,24
The price of Brent crude on Thursday rose 1.09%, to $72,1, and this created a positive background for the growth of the ruble. Information about some terrorist attack drones on the oil infrastructure in Saudi Arabia made the market nervous, but it is unclear how these attacks can reduce the supply of oil, especially as the US Department of energy has announced a growth forecast of shale oil production in June compared to may by about 1%. In the morning the price of oil are in place.
The U.S. Treasury has published the latest data on creditors. The published information showed that China reduces investment in us debt. In March 2019, according to estimates of the US Treasury Department, China sold U.S. Treasury bonds in the amount of $20.5 billion the News was quite negative for the dollar.
The ruble today, probably will again. We maintain the Outlook for the pair dollar/ruble in the range of 64-65 RUB and EUR/RUB slightly reduce the forecast to a level of 71.5-72,8 RUB.
Natalia Milchakova,
Deputy head of the “Information-analytical center,