The ruble is hanging in there, but the liquidity could become a problem

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The ruble is poised in a basket of currencies on Tuesday afternoon. “Russian” is still opposed to mixed sentiments in the oil and leaves out of sight the reluctance of punters to take any active steps without good reason. The US dollar to date is trading at 65,73 RUB (-0,2%), the Euro is declining 0.3 percent and is estimated at RUB 74,62
Courses of the Central Bank of the Russian Federation on Wednesday, October 31, is reduced in both cases and are 65,77 RUB/USD (-4 cents) and 74,79 RUB/EUR (-24 cents).
Commodity market again went into minus. The barrel of oil Brent reduced by 0.6% and is trading at $76,89, the decline is not far behind, and light crude oil WTI (-0,5%, $of 66.67). Today, the focus of market attention, the release of new statistics on stocks of oil and oil products per week. Economists ‘ expectations, according to observations by Bloomberg, show the probability of increase in crude stockpiles by 2.5-3 million barrels. Last week, recall, the indicators have grown in excess of expectations, which was the market fully bearish factor.
You can argue long about a return of risk appetite, the welfare of the external background and other highly questionable aspects, but in fact, the ruble is stable in two aspects: low level of liquidity in the system and lack of on-site monetary “hands”, that is, the Ministry of Finance with the Central Bank. The same low level of liquidity may play a ruble a cruel joke, if suddenly will worsen the geopolitical background.
The US dollar closed trading today in the range 65,60-66,10 RUB, although the turn 66,0 pass are still problematic. The Euro will complete the day in the hallway 74,50-74,95 RUB.
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Anna Bodrova,
Senior analyst,
Alpari