The ruble is not falling as markets relax

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The Russian ruble on Tuesday was trading pretty quietly and calmly as possible after the oil pitching last session. Today in the auction no non-residents, the flow of news is calm, interesting markets there are no statistics. Dollar worth of 68.68 RUB (+0,15%). Euro rises of 0.2% and is estimated at RUB 78,33 the Central Bank of the Russian Federation has set following rates of foreign currencies on Wednesday, December 26: 68,74 RUB per U.S. dollar and 78,43 RUB for Euro. Both estimates revised to increase by 34 and 55 cents, respectively.
Still no data on tomorrow’s auction the Ministry of Finance on placement of OFZ. This is probably the only information that I can “catch” in the context of a news vacuum. Past auctions have had unimpressive results.
Commodity market today trading platforms are closed on the occasion of Catholic Christmas. A barrel of Brent has completed the previous bidding a failure by 6.19% and the cost has reached $50,49. To say that one thing working against oil prices, it would be wrong. The results of the December meeting of the fed, and the shutdown and standby on commercial stocks of oil and oil products, and data on the number of oil drilling in the United States. However, it all lies on the surface. The market was enough “spark” to the whole crowd of emotional speculators ran in the same direction.
For ruble the current failure of the price of oil – an absolute negative, and you should not comfort yourself with the idea that the factor of the tax period and domestic demand for rubles here will change something. It works, while Western markets are closed. As soon as they open, everything comes into motion.
The US dollar will finish today’s trading range 68,50-69,20, the Euro will end the day in the framework of 78.00-of 79.00 RUB.
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Anna Bodrova,
Senior analyst,
Alpari