The ruble has limited further growth

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The Russian currency is quite optimistic. The long absence of new sanctions, the beginnings of normalization of relations between Moscow and Washington, dividend payments to domestic companies – all this allows us to reverse the habitual negative for economy: Ministry of economic development reported a decrease of 0.5% in GDP in the first quarter.
An additional positive factor is the growth of prices in the oil market. OPEC representatives told about the plans to continue the decline in production and after a meeting of the cartel in June. In addition, the escalation of the conflict in the middle East also contributes to the rising prices of raw materials: the Saudis have expressed their willingness to meet the Iranians in the recent attacks in the Persian Gulf. These factors will support the market in the near future, which is why the quotes may well return to the recent highs – $74 a barrel.
The potential for further growth of the course seems limited: the currencies of developing countries adversely affected by trade conflict between the Us and China, threatening as the global economy and oil prices. However, expect a fall in the value of the ruble is not: most likely it will continue to move in the range 64,50 – 65,00 per dollar.
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Gennady Nikolaev
Expert
Academy of management Finance and investment