The ruble is now falling by 0.5% against the dollar
The ruble at the opening of trading today sags a little, dropping the dollar as of 11:00 MSK 0.5% to 66.66 (maybe it’s a sign?). In tandem with the Euro, the domestic currency loses a little less noticeable 0.45 percent to 75,75. Gold is rooted to the spot at $1230 per Troy ounce. When negative developments namely gold, in our opinion, will be the main beneficiary of regrets and disappointments, and the prerequisites for this are present, and considerable. In General, prior to the summit in Buenos Aires, we do not expect any significant movements in the major currency pairs. The players are in a state of painful expectation of the outcomes of major meetings on the sidelines of the G20 summit, the largest and most important economic and financial forum in recent years.
Last night had been very much anticipating this news event that sheds light on the possible outcome of today’s main meetings: Donald trump with Chinese leader XI Cingenem and it is now clear that it will not happen with Vladimir Putin. Recall that the main subject of today’s discussions in the latter case, it should be a discussion of the absence of the USA from the start-2 Treaty and take this very seriously. Trump, unfortunately, in this case I could not break myself in personal emotions and do the right thing for all mankind. Well, it’s not the first time!
Since that meeting almost certainly will not take place, the markets immediately felt the increased geopolitical risks. All hope now for a positive outcome of the meeting trump and the Chinese leader. But here all is not as smooth as I would like. On the eve of the economic adviser to trump Larry Kudlow told CNBC that a lot to expect from this meeting, and probably it will only uttered declarative stencil phrase. Well, the markets are hard to fool, and this gloomy scenario is now, apparently, they are regarded as a priority.
In addition, an unexpected change in the format expected of the meeting, trump and the President of Turkey Erdogan also does not work in favor of the optimists: China is carefully watching the interaction of its neighbors with our Argentine counterparts, and, obviously, on the basis of this development will strengthen its negotiating armor.
“International financial center”