The ruble kept a long time, but oil was stronger

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The Russian currency on Wednesday afternoon remains under pressure. The US dollar by mid-session trading at 69,23 rubles (+1%). Euro rises to 0.8% and is 78,89 RUB the Russian Central Bank has revised the foreign currency rates on the rise, for tomorrow, they are as follows: 68,88 RUB per U.S. dollar (+14 cents) and RUB for 78,52 € (+9 cents).
The Finance Ministry on Wednesday managed to place the entire issue 25083 volume of 7.3 billion rubles, the Agency has tried to approach the issue in a very flexible way, did not cancel the auction due to minor external background, but offered investors a fairly interesting issue.
Raw material prices in the middle of the week adjusted but still too few willing to buy the previous failure of black gold. A barrel of Brent costs to date of $51,44 (+1,3%). Futures on the S&P now come out after a gloomy morning, it gives hope that overseas investors will return to trading after Christmas in a more or less stable state of mind and at least initially will not be “flushing” the oil even stronger than on Monday.
Some support the Russian currency has ongoing tax period in the country, but has been seen on previous trades if the barrel on the downside and investors in the stock market mourning, inner impulse won’t work.
The US dollar will complete the session range, 68,80-69,45, the Euro and finish in the borders 78,50-79,50 RUB.
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Anna Bodrova,
Senior analyst,
Alpari