The ruble ends the week with steady growth

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The Russian currency completes the five days trading in the black. Previously, the ruble has updated the lows of February of this year, which subsequently gave way. Dollar in the Forex market today is stable, the oil also does not show significant movements, which led to the consolidation of the pair around RUB 66
However, before the end of the day the alignment of forces can change.
If the decision of the Bank of Russia, which is likely to cut rates by 0.25%, will not have a significant impact on the dynamics of our currency, the U.S. can bring volatility to the pair. States publish a key report on employment, and according to yesterday’s ADP data, there are chances to see a decent performance. In this case of doubt, investors in the fed rate cut in September will increase, and the dollar strengthened.
So, if the employment rates and salaries will exceed forecasts, the pair dollar/ruble will surely be located above the level of 66 rubles., but on the weekly chart is likely to remain in negative territory as the pressure on the ruble limit on the positive dynamics of oil prices. Brent is struggling around $ 61 per barrel after yesterday’s breakthrough above the level of $ 62. Despite the fact that now in the raw materials segment is prevailing bullish bias, the dynamics shows that the market is not ready for a full-fledged rally, with the continuing risks on the trade front.
Gennady Nikolaev
Academy of management Finance and investment