The ruble falls, the dollar strengthens growth
The Russian ruble on Tuesday afternoon slightly weakened in a basket of currencies. The US dollar stands to date 66,51 RUB (+0,2%). Euro rises by the same 0.2 percent and is trading around 75,59 RUB the Central Bank of Russia set for Wednesday, January 23, the following foreign exchange rates: 66,54 RUB/USD (raised to 18 cents) and 75,55 RUB/EUR (increased by 1 penny).
On the one hand, the dollar comes and strengthens its position in the global foreign exchange market, and no shutdown it is not scary. On the other, the ruble is not falling because of the effect of the tax period and relatively high prices for raw materials.
Oil is even taking into account today’s sale is more or less expensive compared to the December levels. A barrel of Brent is now trading at $the accounting period 61.92 (-1,3%). WTI oil falls in sync. The balance of power on ICE shows that investors still do not hurry with the building of long positions on oil, as confidence in the ability of a barrel to continue the growth. Output data on stocks of oil and oil products this week is shifted a day forward due to non-working Monday in the States – statistics from the API will be released only tomorrow night.
The Finance Ministry has not yet presented its plans at tomorrow’s auctions on placement of OFZ, but probably he will try to repeat his success of last week. External background is estimated as calm, local carry trade could happen again.
The US dollar will spend the rest of today’s session in the range 66,40-66,85, the Euro will remain within 75,35-of 76.00 RUB
Senior analyst at information-analytical center,