The ruble is based on oil and tax period

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Ruble to the middle of the day on Thursday remains in high spirits and are traded in pairs in foreign currencies to increase. The US dollar to date is estimated at RUB 66,68 (-0,5%). The Euro is trading at 75,28 RUB (-1%). The Bank of Russia set for Friday, November 16, the following exchange rates: 67,99 RUB per U.S. dollar and 76.75 RUB for Euro. Both estimates revised on the increase, 31 and 68 cents, respectively.
On the eve of the Russian currency very quickly reacted to the information about the postponement of the tightening in packages of anti-Russian sanctions from the United States. The media reported that Congress is simply not enough time for consideration and approval, measures, and Russian investors took it as a gift for all upcoming holidays at once. Actually the pause in the stream of negativity is not good news in itself, sooner or later it will end and the market will have to re-consider this pressure.
Now, by entering the factor of the tax period, which coupled with a rebound in oil allows the ruble to strengthen.
Commodity prices this morning have recovered some ground after the “black Tuesday” and volatile environment, by mid-day stabilized. A barrel of Brent is $66,13 and grows into symbolic of 0.02%. Fresh API report confirmed the next wave of growth stocks of raw materials in the United States, from the present data of the energy Ministry is waiting for the confirmation and increase pressure on commodities.
The US dollar closed trading today within 66,50-67,15, the Euro and finish in the borders of 75.10-to 75.85 RUB.
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Anna Bodrova,
Senior analyst,
Alpari