The ruble has stabilized for the grown oil
Oil prices have stabilized today. Brent is trading around $66,30 as of 12:00 Moscow time, and a price chart of “black gold” like the graph of the ruble to the ill-fated Tuesday 13 Feb trying to form a horizontal channel. In this case, it is bounded by the lines $66,00 and $66,70 per barrel for Brent. It seems that the oil is once again trying to re-find the balance point. The main “troublemaker” in this story – the Saudis – are not quite satisfied with the level of $60/bbl, which is, apparently, the upper threshold “of comfort and serenity,” the US President Donald trump.
Speaking about the events overseas, as it was easy to foresee, after the introduction of the President trump the state of emergency in the country, they were not slow in coming. The President of the United States Donald trump sued by representatives of 16 States. They believe the illegal allocation of funds the construction of a border wall with Mexico to bypass Congress. Meanwhile, the speaker of the house of representatives of the US Democrat Nancy Pelosi went on “tour support alarmed Europeans” to Europe, where she has already performed in the framework of the security conference in Munich and made a report “the U.S. Congress and its role in the politics of international security”.
The majority of participants came from Western European countries with parliamentary systems of government and do not quite understand how practically could affect changes in the composition of the U.S. house of representatives after the parliamentary elections from the point of view of international diplomacy of the United States.
In turn, European Commission President Jean-Claude Juncker yesterday used the uncharacteristic militant tone in his speeches, promising that the EU will reduce the regulatory import of goods from USA in the case of the last import duties on cars. For this purpose, was issued a report for internal use, the contents of which were not disclosed, but the essence is that if the United States allow the use of tougher sanctions against the European automotive industry, the damage to the American economy from job losses in the country located in the European Assembly plants will be about $10 billion when the loss of jobs of more than 350 thousand highly skilled workers of these factories.
Speaking about the Russian currency market, the ruble is trading at about yesterday’s closing levels of the market – in the area of 66,20 rubles per dollar. In the absence of any significant domestic news and in anticipation of the publication of the parameters of the next OFZ auction this week, investors are frankly bored. A signal for the strengthening of the national currency will return to its usual trading channel 65-66 rubles per dollar, which is possible either as a result of the support from the oil or the above-mentioned offerings of the bonds of Federal loan of the Ministry of Finance.
The Ministry of economic development today released data on the total amount of estimated damage to the Russian economy in 2018 from sanctions by other countries (all of them introduced 62 countries), which amounted to $6.3 billion, the amount is appreciable, but obviously not catastrophic. This once again confirms the popular notion that Russia’s economic problems are largely internal and man-made.
LIFA, the expert “International financial centre”