The ruble is adjusted upwards, despite the weakening of oil

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The price of oil (June futures) on Friday 27 April 15.07 MSK decreased by 0.2% to 74.58 USD per barrel for Brent. The market of black gold is slightly adjusted downward against a rise in price of dollar on Forex. Investors awaited the release of statistics on the dynamics of U.S. GDP in the first quarter. Analysts expect the first estimate, the index rose 2% in annual terms against the previous quarter at 2.9%.
However, the ruble continues to demonstrate its latest high oil prices and increases in the correction after a decline the day before. The decision of the CBR to keep the rate at 7.25% per annum and neutral comments of the regulator’s monetary policy has not had a significant impact on exchange rate fluctuations.
To 15.19 MSK dollar was down from the start of trading by 0.4% to 62,47 of the ruble, the Euro by 0.6% to 75,41 of the ruble. Until the end of the day, the U.S. currency will fluctuate in the range of 62-63 of the ruble, the Euro – in the corridor 74,8-76 rubles. The price of oil in rubles fell slightly relative to multi-year high of 4,700 per barrel for Brent.
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Ivan Marchena,
Analyst
GK Forex Club