The ruble is not strong enough for growth, the outflow of money from BFL alarming
The Russian section of the foreign exchange market on Thursday afternoon looks calm and steady. The U.S. dollar is trading at 62,99 RUB and getting more expensive by 0.3%. Euro gaining 0.1% and 73,75 worth RUB Official rate of the Central Bank of the Russian Federation on Friday, 27 July, revised from 62,94 RUB per U.S. dollar (-14 cents) and RUB over and 73.81 euros (+6 cents).
The oil market after a fairly brisk morning konsolidiruyutsya. A barrel of North sea Brent traded at $74,85 (+0,5%), the cost of a barrel of Texas light oil WTI slightly decreasing. Investors have already factored in the prices and news from Saudi Arabia and the oil reserves from the US Department of energy.
Despite the relatively weak position of the American currency on the world currency market, the ruble doesn’t look configured for active growth. On the one hand, the ruble has already lost the support of the factor of the tax period is the peak phase was yesterday. On the other drive in oil is clearly not enough to go noticeably below of 63.00 rubles per U.S. dollar. The outflow of money from the secondary section of the OFZ is a clear negative for the stock market and the ruble, and for a long time to ignore it will not work.
In addition, in the background looming US with their intention to consider the issue of toughening anti-Russian sanctions. These plans do not sound the first time, and it may be worth a closer look.
The U.S. dollar closed the session on Thursday within 62,80-63,45, the Euro will finish the day in the hallway 73,50-74,35 RUB.