The ruble is weakening, all the attention at the press conference of the Central Bank of the Russian Federation

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Russian ruble on Friday afternoon retreats to a basket of currencies. Investors currently monitor the actions of Bank of Russia: I have just completed the June meeting of the regulator, where the key rate was maintained at the same level of 7.25% per annum. Of particular interest now is the press conference of the head of the CBR Elvira Nabiullina – it will start at 15.00 GMT.
At the same time will probably be more active movements in ruble pairs. Meanwhile, the US dollar rises to 0.2% and is 62,77 RUB Euro rises in price by 0.4% and is trading at 72,78 RUB.
Official exchange rates of the CBRF at the weekend and on Monday, June 18, 62,68 make up a RUB for the American currency (increased by 43 kopecks) RUB and 72,53 per Euro (reduced to 103 cents).
Based on long-term expectations for growth and inflation this year and next year, it is now impossible to exclude the possibility that the key rate of the Russian Federation will remain at the current level until at least the autumn. There is also a scenario in which CBR this year, more not dare to lower the rate. It’s not good signals for the population and the ruble.
Commodity market on Friday afternoon is held in the “red”. A barrel of North sea Brent crude traded at $75,04 and loses more than 1%. A barrel of Texas light oil WTI on the market for $66,49 (-0,3%). The attention of investors is concentrated here at the start of next week’s OPEC meeting in Vienna. The balance of power in oil is that any mention of possible expansion of production will reduce the price of a barrel is very noticeable.
The U.S. dollar prior to the completion of today’s session protorguetsya within 62,35-63,25 rubles, the Euro will remain within the boundaries 72,45-of 73.00 RUB.
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Anna Bodrova,
Senior analyst,
Alpari