The ruble is falling on the horizon level 66,50 rubles per dollar

  • And
  • +A

Wednesday, may 2, at the end of the trading session on the Moscow exchange, the dollar calculations “tomorrow” increased by 105 COP. (+1,67%), to 64.02 Euro – 41 kopecks (+0,54%), to 76,48 RUB Trading volume in the pair dollar/ruble amounted to $1.3 billion (+75,20%), the Euro/ruble – to 82.6 million euros (+4,29%).
The Central Bank of Russia from April 29 to set the official rate of the US dollar against the ruble at the level of 61,9997 RUB, which is below the previous day by a COP. 72,63 the Official Euro to ruble exchange rate was set at around RUB 75,2056 compared to the previous value rate increased by 55,49 COP.
May holidays and the whole of April, the ruble was negative. In April, the Russian currency fell against the U.S. dollar by 10.18% for the may holidays – by 2.8%. Its weakening is due to the deteriorating situation in Syria, the widespread strengthening of the dollar on Forex pending the outcome of the FOMC meeting and low trading volumes during the may holidays, which fell in 4 times in comparison with the amount on ordinary days.
The Committee on open market operations, the fed kept its key rate at 1.75%. The decision was in line with market expectations. Traders still expect a rate hike by 25bps.p. at the FOMC meeting in June. After the meeting the dollar index rose to 92,83.
USA and allies have begun a military operation in Syria against ISIL militants. The market reacted negatively to the news, because nobody knows how events will develop further and covered by the Western media.
The UN has already reported about the destroyed hospital in the town of Kafr Zita. In the province of hasakah killed 25 civilians. In the village of El Fadil, near the town of El-Haddadi from coalition air strikes destroyed homes.
Thursday, may 3, in Asia, oil is trading in positive territory, the dollar is in the red. In this regard, the first half of the auction may be favorable for the ruble. Because external background remains adverse to him, by the close of trading expect the dollar to RUB 64,50, Euro – RUB to 77,06 In the next days target for the dollar is 66,50 RUB.
_______________
Vladislav Antonov,
Analyst
Alpari