The ruble is still more difficult to hold the position

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The ruble continues recovery after yesterday’s pullback in the dollar from the highs near the mark of 67 rubles. the dollar/ruble is trading with a symbolic decrease, reaching a local support in the area 66,30 RUB Quotes are influenced by multidirectional factors.
In favor of the ruble plays a General reduction of tensions in global financial markets yesterday after Beijing expressed a desire to return to the negotiating table. Also our currency help the speculation about a possible exchange of prisoners of war and prisoners of Ukraine and Russia. Oil, meanwhile, is held over a mark 60 dollars per barrel, but not solved for the continued growth.
As for the factors limiting bullish potential “Russians”, these include the strengthening of the dollar in the Forex market, the fading support of the tax period, and the continued nervousness around the Outlook for the world economy with an eye on the dynamics of the yield curve. The negative adds, and the situation in Argentina, which was on the verge of default, and the situation worsened after the reduction of the rating Agency S&P.
Against this background, taking also into account “the factor of Friday”, which is often accompanied by a reduction of risk, the possibility of a break of the dollar/ruble under the mark 66 RUB in the short term is minimal, while the threat of a resumption of growth persist, especially in light of the imminent entry into force of the new tariffs trump against Chinese imports.
Gennady Nikolaev
Academy of management Finance and investment