The ruble is stable, but long it will not

  • And
  • +A

Thursday, November 15, at the end of the trading session on the Moscow exchange, the dollar calculations “tomorrow” has decreased by 112 COP. (-1,67%), to 65,89 Euro – 127 kopecks (-1,68%) to RUB 74,68
On Thursday, the Russian currency has significantly strengthened against foreign currencies. She was able almost completely to win back all the losses that it incurred since the beginning of November. The reason for its strengthening was the information about the postponement of the tightening of anti-Russian sanctions from the United States.
And against the background of stabilization of oil prices, speculators once again believe in the ruble. The evening trading session, the pair dollar/ruble fell to 65.86 RUB, EUR/RUB – to RUB 74,66
The market participants expect the meeting of leaders of Russia and the USA during the G20 summit.
In connection with this pause in the conduct of the new sanctions was for the Russian ruble a positive factor. Can be traders began to buy ruble, as the state Department has not decided on the contents of the new package of sanctions. Assistant Secretary of state Christopher Ford stated that they continue to work on the content of the second package of sanctions against Russia.
Commodity prices this morning have recovered some ground after the “black Tuesday” and volatile environment and by mid-day stabilized. A barrel of Brent is $66,13 and grows into symbolic of 0.02%. Fresh API report confirmed the next wave of growth stocks of raw materials in the United States, from the present data of the energy Ministry is waiting for the confirmation and increase pressure on commodities.
On the background of reduction of geopolitical risks and oil market recovery from habit is expected to further fall. Additional support for the ruble will get from the tax period. Today the target levels in the pair dollar/ruble – RUB of 65.55, Euro/ruble – RUB 74,40
________________
Vladislav Antonov,
Analyst
Alpari