The ruble is under heavy oil could not resist and collapsed

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The Russian ruble continues to retreat in a basket of currencies, but the morning of the market the emotions are a little smoothed out by mid-day. The US dollar is 66,88 rubles (+0,4%), today the American currency rose above 67, RUB Euro grows symbolically, a mere 0.01%, and is estimated at RUB 76,71 Courses of the Bank of Russia on Tuesday, 9 October, makes 66,96 RUB per U.S. dollar (+34 cents) and RUB over the 76,98 euros (+32 cents).
The pressure on the domestic currency gradually increases, so we cannot rule out sharp movements in the near future. On the one hand, cheaper oil, and if the dynamics here remain in force, the commodity currency – the ruble will come under pressure. On the other hand, the dollar is on the offensive on the world stage for the rapid rise of US yields. Together this is enough to grinbek rose above 67,50 RUB.
Oil prices sharply weakened. A barrel of Brent to the present time worth $82,88 (-1,5%). The technical picture trading black gold is a probability of oil slides towards the intermediate support at $82,50, where it will open the road to the medium-term sales target of $81. Friday’s statistics from Baker Hughes showed that the number of drilling rigs in the U.S. for the week decreased by 2 units (1052 units) in Canada increased by 4 units. Interestingly, the number of active U.S. rigs is declining three weeks in a row on the background of high prices for raw materials – in theory, it should be the opposite.
The U.S. dollar closed the session Monday within 66,80-67,35, the Euro will finish the day in the range 76,60-77,10 RUB.
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Anna Bodrova,
Senior analyst,
Alpari