The ruble is weakening, waiting for the results of auction the Ministry of Finance

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The Russian ruble today retreated to a basket of currencies, but to date, activity in ruble pairs was reduced to a minimum, smoothed and amplitude of movements. The US dollar is now worth 66,37 RUB (+0,03%). The Euro is trading at 75,20 RUB (+0,07%). These levels do not differ from the prices at the opening session.
It is possible that the market is waiting for the results of auction the Ministry of Finance on placement of OFZ. Today, it is interesting that the office has gone on an unusual way. One of the issues, 25083, with a limit of 16.17 billion rubles, located exactly half – the Department has drawn here only 8,88 billion rubles In the second edition, 29012 with a limit of RUB 5 billion, there is no information. I think you will be fine, such proposals market buys quickly and easily.
Why not the Ministry of Finance has placed fully 25083? Most likely, the demand, which saw market (applications were 40.5 bn), offered the purchase at a lower price. Previously, the Agency had mentioned the fact that it does not intend to raise Finance at any price. It is also signaled to investors about a difficult situation with the money from the Finance Ministry and now it is not. In other words, the Finance Ministry is likely to once again overestimated demand.
Commodity market on Wednesday afternoon experiencing the local rally, but while all these movements are very similar to the ordinary redemption of sales. Purpose to buy indiscriminately there is clearly no. For this is quite a bullish news from the API, where oil stocks fell last week by more than 10 million barrels, investors almost never played. A barrel of Brent is now worth $61,18 and increases by 1.6%.
The US dollar will finish today’s session within 66,20-RUB of 66.65, € actual short-term corridor of 75.10-75,55 RUB.
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Anna Bodrova,
Senior analyst,
Alpari