The ruble fell despite the easing of the sanctions rhetoric

  • And
  • +A

The ruble remedial declined by results of trades on Tuesday. Attempts of the pair dollar/rouble to a mark of 64 test RUB led to profit taking and in the end quotes reached region RUB Euro 64,40, which drops on Forex, behaved modestly, strengthened by less than 0.1%.
The Russian currency already does not look as elated as before, which is understandable. The tax period is left behind, and after some time will start to weaken the influence of the seasonal factor – the positive balance of payments.
Thus in a broader context in support of the ruble will continue to be the softer rhetoric of the U.S. Federal reserve, reducing the threat of severe sanctions and high oil prices.
As for the oil factor, Brent strengthened on the eve and maintains an upward slope, despite the fact that the API report reflected unexpected growth of stocks of crude oil by almost 2 million barrels.
However, the potential for further growth of the black gold in the short term is limited as risk aversion continues to prevail, and the dollar is in demand. This also plays against the ruble, which, given these factors are unlikely to push the dollar under the mark 64 RUB
Gennady Nikolaev
Academy of management Finance and investment