The ruble continues to set new record

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After timid attempts of recovery in the world stock markets resumed the flight from risk. Unable to withstand external pressure, Russian indices opened lower, moderately entrenched the day before. Index Mosberg and RTS from the beginning of the session, losing an average of 0.7% and the ruble continues steady decrease, albeit a bit retreated from the morning lows.
A new wave of concern swept world markets amid the ongoing protests in Hong Kong that attract the attention of the authorities in Beijing. Oil poured into the fire, the collapse of the Argentine peso to record lows on the unexpected growth of populist sentiment in the country, where pre-presidential election with a serious gap to the leaders was claimed by the opposition candidate, while support for the current leader, weakened sharply.
Meanwhile, the dollar/ruble jumped at the opening to the area of the highs 65,60 RUB where subsequently has continued, but remains near the upper end of the range, demonstrating their willingness to break through to new heights in terms of avoidance of risks. Brent still does not provide support to our currency, I got stuck on a mark of 58 dollars per barrel in anticipation of the latest drivers.
The main economic event today will be publication of the inflation report in the United States. If the results do not justify expectations, the demand for the dollar is universally fades, which will reduce short-term bearish risks for the ruble.
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Arseniy Dadashev,
Director,
Academy of management Finance and investment