The ruble is growing in spite of the negative world

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Quotes of the Russian currency added, according to results Thursday despite mixed global markets. The USD / RUB pair fell 63 cents, to 66,27 and EURRUB decreased by 24 kopecks, to 76,81. The strengthening of the ruble more surprising that it was quite difficult to find a significant positive points that would stand for such a sharp increase.
So, global markets closed Thursday’s decline: the S&P500 lost 2% after the failure of 3.4% on the previous day. Oil at the same time lost 2.7%, opustevshij at some point below $80 per barrel.
This morning the situation on the markets have stabilized, with the Chinese site bounce off multi-month lows, while Brent also plays the part of yesterday’s losses.
Thus, the background for the Russian ruble is relatively positive. However, in previous episodes we found out that the short-term the ruble could live their lives, dropping or adding against the market.
Probably a good indicator will serve as the debt dynamics of the US market, which adjusts for caution in relation to the Russian currency. The yield of us treasuries yesterday at the end of the day once again turned to growth. As a result, at the start of the session in new York, the yield spread of Russian bonds to us should fall, will undermine the attractiveness of investments in domestic securities.
Overall, an amazing story of how the factors impact on the ruble. Since late last year is finally confused correlation with oil, and the driver began the mood in global markets. After this year stepped forward factors of the sanctions and the inflow-capital outflow. In August-September, the ruble was regarded as one of the currencies of developing countries, which, overall, had a fever that dragged the Russian currency. Now more and more signs of direct influence of the debt markets of the US and the dollar against the ruble and ignoring the demand fluctuation risks in global markets.
Alexander Kuptsikevich,
Senior analyst,