The ruble has reached an important juncture
With an eye on a good external background, where European stocks were higher in the moderate regime, the Russian stock market started the week with a growth. In the second half of the week index Mosberg and the RTS rising 0.6% and 0.9% respectively, despite the absence of significant support from the oil market, where Brent is having some difficulties with continued growth.
Trump moved the end of the time of the trade truce with China pleased investors continue to monitor developments on this front. However, the players do not show special enthusiasm, since the extension of the deadline was widely expected and already priced in.
At the peak of activity of exporters in the framework of the tax period, the ruble continues to strengthen, pushing the dollar to the mark of 65 rubles., the Pair noted the low level 65,12 RUB and retains a bearish bias. However, to assault the psychological mark of the Russian currency may need an extra boost.
Since support of the tax period will soon come to naught, but the oil rally stalled in the near future is unlikely to count on a important breakdown of the ruble up, of course, if the dollar is not “wallow” in Forex.
Brent crude oil on Monday opened on a bullish gap, but retraced later. As long as prices stay above the level of 67 dollars per barrel, constructive Outlook to remain relevant. Moderate support black gold have Friday’s data from the US, where drilling activity fell last week after three weeks of growth.
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