The ruble did not stop the growth attempts
At the end of business March, the Russian ruble does not leave the local attempts of strengthening to a basket of currencies, but the special effect they give. The US dollar to date is trading at 64,74. (-0,3%). The Euro is retreating by 0.2% and 72,68 rubles the Bank of Russia set for the weekend and Monday, April 1, the following foreign exchange rates: 64,73 RUB per U.S. dollar and 72,72 RUB for Euro. Both estimates are reduced by 7 and 16 cents respectively.
The oil market revived by mid-Friday trading, and is back in the plus. A barrel of North sea Brent oil increased by 0.6% and cost $67,45. Comments by the President of the United States Donald trump on Twitter about the fact that oil has become too expensive, now no one interested.
Overall, the first quarter of 2019 for commodity market was quite successful. Brent crude oil rose by 24.6%, having risen from $54,12 at the beginning of the year until now quotes. Thus, black gold offset part of the losses, which became famous for the fourth quarter of 2018. Good job Saudi Arabia, which reduced the extraction of raw materials more noticeable than it was agreed upon within OPEC+ pace. The decrease in oil exports from Iran also allowed the oil to rise in price, as well as developing in Venezuela crisis. It blocked the fact that the growth in US production to record levels.
The second quarter may be a good time for commodity markets, but the winter records of price growth to wait still not worth it. To date, the U.S. dollar in the global currency market looks pretty strong, and if the EUR/USD pair fell through to 1.12 today, the dollar/ruble will also react.
With high probability the dollar will play the second half of the session on Friday in the range 64,65-65,00, the Euro and within the boundaries of 72,45-72,95 RUB.
Senior analyst at information-analytical center,