The ruble has updated a two-month high at the level of 65.5 to the dollar

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Asian venues have grown in the course of trading Friday. The growth of Tencent shares have supported Hong Kong’s Hang Seng and the mood in the region as a whole. Japan’s Nikkei 225 gained nearly 1%, China’s Shanghai Composite rose 0.4%, while South Korea’s Kospi jumped nearly 1.5%. If the current mood in the markets will not undergo significant changes during the day under the influence of fresh news that Europe will hold today’s session in a mode of cautious optimism.
Reflecting the external background, the Russian market is trading in the moderate growth at 0.3%.
The ruble at the start of trading has already managed to upgrade to 2-month high against the dollar, but to develop momentum is not in a hurry. The pair dollar/ruble is trading above the level 65,70. and could target the testing area of 65.50 RUB, if the oil will develop bullish momentum.
Some improvement in sentiment in stock markets coupled with the threat of imposition of U.S. sanctions against the oil sector of Venezuela to support a moderate strengthening of oil prices. On the eve of Brent crude slightly higher level, and on Friday continues to climb. Barrel seeks to around 62, but bullish momentum is definitely not enough for stronger recovery.
The mood of the players spoiled yesterday’s report Ministry of energy, which reflected the growth of stocks of crude oil by 7 million barrels last week. However, the reaction of my players was pretty low-key, since the results of the report at this time differed greatly with the data API, published a day earlier. Market participants continue to monitor the geopolitics, where the possibility of tightening sanctions against Venezuela appears to be deteriorating. At least the power problem of the country decided not to take any action against U.S. diplomats, in order not to provoke a “harsh response of Washington.”
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Nathan Lambert
Head of research,
Global FX