The ruble depreciates after the fall of oil 0.58%

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Wednesday, July 4, at the end of the trading session on the Moscow exchange, the dollar calculations “tomorrow” increased by 8 kopecks (+0,15%), to 63.24 Euro by 5 kopecks (+0,08%), to 73.66 RUB Trading volume in the pair dollar/ruble amounted to $1.0 bn (-60%), the Euro/ruble – €375 million (-9,04%).
The Bank of Russia from July 5 to set the official US dollar rate to ruble at the level of 63,2267 RUB that above the previous close 0.73 kopecks Official Euro to ruble exchange rate was set at around RUB 73,7097 compared to the previous value rate increased by 0.85 kopecks.
The ruble at the end of trading fell slightly against the dollar and the Euro amid lack of trading in the US over the weekend. The price of Brent oil in the course of the day revolved around the level of $77,88 per barrel. The dollar consolidated at the level of 63,26 Euro – 73,70 RUB trading Volume to the dollar was very low.
On Wednesday, the Ministry of Finance held two auctions, which has placed OFZ in amount of from 29.85 billion rubles out of a planned 30 billion rubles. the Total demand on the two issues of government bonds made up 85,19 billion rubles RGBI Index closed in the red.
Thursday, July 5, in the Asian session, Brent fell by 0.58% to $77,65 per barrel. At auction in Europe the negative trend is likely to increase. Can now be said that the oil market will have a negative impact on the ruble during the opening of Masuri.
Today resistance for the U.S. dollar level will be 63,60 RUB, EUR – RUB of 74.00 In the end of the week the market participants ‘ attention will be focused on the minutes of the last meeting of the Federal open market Committee, the fed and reporting on the employment market in the United States.
On Friday will take effect new U.S. duties on Chinese imports. China could tomorrow declare responses that have a negative impact on the ruble exchange rate dynamics.
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Vladislav Antonov,
Analyst
Alpari