The ruble enjoys the weakness of the dollar and growing

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Thursday afternoon the ruble behaves confidently. The US dollar to date, reduced 0.4% of 66.67 is approximately RUB Euro retreats on the same 0.4% and is trading near 75,83 RUB the Russian Central Bank has defined the following foreign exchange rates for Friday, November 30: 66,6342 RUB per U.S. dollar (reduced 0,3094 COP.) and 75, 8897 rubles for Euro (raised at 0,3706 COP.).
The oil gives the reason to worry. A barrel of North sea raw materials day goes down in price by 1.3% and costs $58,32. Thus the market had to be taken into account in the cost of oil the latest statistics from the energy Ministry, but the sellers are still very active.
The weakness of the us dollar received solid support ruble today. After very mixed reviews of head of the Federal reserve system Jerome Powell on the proximity of interest rates to the target levels, the position of the grinbek weakened, allowing others to grow the traded currencies, and the ruble in particular. Powell does not normally accept imposed his rhetoric, but is doing everything wrong, as usual the market: these comments coincide with what was previously said Donald trump about too rapid growth rates, interest rates and the tightening in the us economy.
In addition, it has weakened the dollar index on the background of statistics and observations of the fed.
The rouble now has its thin moments. First, the tax period ends, this factor support is no longer working. Second, oil prices look weak, and while a barrel of Brent is hanging out near $59, prospect traffic to $54,50-$55,00, durable support line, very important. Geopolitical risk is reduced, but the intrigue regarding the meeting of Vladimir Putin and Donald trump on the G20 remains. Any positive on this side will support the Russian debt market and the ruble, and negative or ambiguity will cause a decline and outflow of money.
The US dollar will finish today’s trading in the range of values 66,50-67,15, the Euro finishes in the range of 75.65-76,10 RUB.
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Anna Bodrova,
Senior analyst,
Alpari