The ruble has reached an important juncture

  • And
  • +A

At the Asian sites was observed a slight risk aversion, resulting in most of the regional indexes ended in negative territory. European stocks are mostly in positive territory, with the German DAX shows a forward momentum, catching up with colleagues after yesterday’s output on the markets of Germany. The cautious optimism of European investors, coupled with near-zero by the dynamics of quotations of oil has led to mixed trading at the start of trading in Russia. Index Mosberg reduced by 0.25% under the influence of the monetary factor that encourages RTS to growth of 0.6%. The ruble, which yesterday rose 1 percent, continues to climb, sending the dollar to around RUB 61
The Russian currency has reached an important milestone – the breakdown of the level 61 RUB will open the way to further recovery. For confirmation of a break will need a daily close below this level. The reason for the restoration of our currency was the dollar’s weakening on the international market. However, the integrity of the bullish trend is still not broken, and in the future, the bulls can get back in the game. The demand for “American” are able to perk up in anticipation of tomorrow’s publication of the minutes of the meeting of the Federal reserve.
The oil market is no downward correction, but also new attempts to test the level 80 Brent quotes while too. The barrel is kept near this psychological barrier, receiving major support on the background of U.S. sanctions against Venezuela, where production volumes continue to fall and has reached the lowest level in half a century levels. Locally black gold supports the retreat of the dollar. Tonight the API will publish data on stocks of hydrocarbons in the United States. However, if strong deviations from the forecasts will not be the response of commodity markets will be relatively mild, since the focus of the traders to remain focused on geopolitics.
_____________
Sergey Kostenko,
Investment analyst
GLOBAL FX