The ruble is under pressure from a stronger dollar and falling oil
The ruble today
Today the ruble will be under pressure from a stronger dollar and falling oil prices. The us dollar strengthened all major currencies after the ECB meeting, while Brent fell back below $64 and could decline further amid trade wars in the world. Current oil prices suggest a corridor for the dollar/ruble in the range of 56.8 and 57.3 RUB and EUR/RUB within the range of 70-70,5 RUB.
Stock market forecast
At the end of trading on 7 March, the Russian stock market has tried to bounce upwards, allowing you to rely on the suspension of reducing the index of the Moscow exchange. While risk factors are the global trade war and a statement of the Secretary of the Treasury Mnuchin about the plans of new restrictive measures against Russia.
During the day, while the Moscow stock exchange was closed, the EUR/USD and crude oil rolled down, and the us and Asian stock indices increased slightly. Today after opening with small gap down, the index will consolidate in the range of 2270-2300 points.
Today, trading activity in the Moscow exchange will be reduced – most traders will not open trading terminal. In particular, banks have (noticeable bidders) continue weekend.