The ruble is growing after a successful OFZ auction

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Ruble slightly strengthened to a basket of currencies to date. The U.S. dollar is worth 66,13 RUB (-0.2 percent). The Euro is trading at 76,08 RUB (-0,1%). Courses of the Bank of Russia for tomorrow, October 11, are 66,18 RUB per U.S. dollar and 76,07 RUB for Euro. Both evaluations is reduced by 22 and 14 kopecks. respectively.
Commodity market day konsolidiruyutsya and moves inactive. A barrel of North sea Brent costs $84,95 (-0,07%), morning black gold attempted to cross the mark of $85 to gain a foothold above, but a special success of this approach was not successful. However, the rest of the day at the market, there may be reason for hesitation. So, late in the day start to publish data on stocks of oil and oil products. Today is going to be released from API. Average market expectations, as shown by the results of the poll by Bloomberg, reflect the possibility of growth stocks by 2.8-3.0 million barrels for the week. At the same time stocks of gasoline and distillates could be reduced.
Today the Ministry of Finance managed to sell the entire volume of OFZ at the auction. By the way, it was only 5 billion rubles – for this amount, buyers can almost always find. The volume of demand, interestingly, was more than 21 billion rubles. it may well be that the demand is manifested by the narrow framework of accommodation, which was organized by the Department.
Capital outflow from Russia is becoming more pronounced the closer to November, when the US Congress can arrange for a new Russian sanctions, the higher the risk assessment. Many foreign investors prefer, apparently, to sit out uneasy time in money, not in assets. On this basis, we can assume that in the near future outflow of money from Russian assets continues, it will put pressure on the ruble.
The US dollar closed today’s session in a range of 66.00-66,85, the Euro will finish the day in the hallway of 76.00-of 76.75 RUB.
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Anna Bodrova,
Senior analyst,
Alpari