The ruble is based on taxes, oil, and intervention

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The price of oil (July futures) on Monday 21 may to 14.35 MSK decreased by 0.2% to 78,38 per barrel for Brent. The market of black gold stabiliziruemost after the recent attempts to test the psychologically important level of resistance 80 dollars per barrel – far from it.
Investors play a compromise in trade disputes between the US and China, according to which a suspended imposition of trade duties. In addition, the oil bulls play the news about falling oil production in Venezuela to a record low since 1950-ies.
As for the ruble, he tries to win back the peak of the tax period of may, which falls this week. Verbal interventions Yudayeva also support the ruble. The situation on the financial markets of the Russian Federation seems to be much more stable and controlled than in other developing markets, she said.
As a result, 14.45 GMT the dollar has been rising since the start of trading by 0.03% to 62.28 ruble, the Euro was down 0.07 percent 73,22 of the ruble. Until the end of the day, the U.S. currency will fluctuate in the range of 61.7-62.7 ruble, Euro – in the hallway of 72.6-73.8 ruble. The price of oil in rubles remains near multi-year highs at the level of 4900 per barrel for Brent.
Ivan Marchena,
GK Forex Club