The ruble is falling, the performance of Powell’s strengthened the dollar

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The ruble continues to retreat under the pressure of consolidating the dollar. The us currency pushed up the performance of Jerome Powell to the U.S. Congress: the new head of the fed commented positively on the state of the economy that has given investors confidence in further rate increases.
The price of “black gold” are reduced after the publication of the report by the American petroleum Institute (API), which showed an increase of weekly inventories of raw materials in the U.S. at 933 thousand barrels (up to 421,2 million barrels). Added a picture of the weak statistics from China and Japan. Another blow on quotes can strike a fresh data from the energy information Administration (EIA).
Against the ruble also played by the deterioration in global risk appetite, however, residual payments within the tax period still continue to support it.
Expected trading range for today is 55,80 – 56,80 RUB/USD.
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Maxim Golubkov,
Head of financial institutions and investment services
UBRD