The ruble looks forward to the outcome of the meeting in Helsinki

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The ruble after a day of growth against the Euro and a moderate decline against the dollar amid positive expectations ahead of the meeting US President Donald trump and the President of Russia Vladimir Putin in Helsinki on the evening auction of lost confidence and decreased significantly to both currencies on the back of profit taking before the weekend. On Friday, data released from the American company Baker Hughes, a GE Company, according to which for the week ended 13 July, the rig count increased in the country in two pieces.
For the oil market, this information was not as significant as news about the continuation of the strike in Norway and the protests of workers of the oil and gas sector in Iraq, which pushed the quotes up. However, the fluctuations of the ruble is not affected. As a result, the USD/RUB completed auctions on Friday growth of 31 penny – 62.56 ruble EUR/RUB 44 kopecks to 73,09 of the ruble, according to data Libertex.
U.S. indices rose moderately by 0.03 and 0.38% in the positive statistics and amid reports of financial corporations. So, JP Morgan Chase and Citigroup increased its net profit in the first six months and the quarter. In turn, the index of economic expectations in the United States in July rose to 86.4 points from 86.3 per item a month earlier. At the same time, Wells Fargo reduced its net profit for the second quarter by 11%, which did not allow the indices to show better dynamics. In the end, the Dow Jones industrial average on Thursday rose by 0.38% to 25019,41 points, the index of high-tech companies NASDAQ – for 0,03%, to 7825,98 points, the index of wide market S&P 500 – also by 0.11% to 2801,31 points, according Libertex.
The morning formed a mixed external background: futures on American indexes are growing, Asian markets mostly fall, but the oil is adjusted down, but still remain above 74,5 USD per barrel. Market participants would be cautious ahead of a meeting of presidents of the United States and Russia, which will begin on Monday at 13.00 GMT.
Futures on American indexes grow moderately in the range of 0,02-0,13%: the S&P 500 index – on 0,03%, on NASDAQ – on 0,02%, Dow Jones by 0.13%. Asian markets mostly fall on statistics from China in the range of 0.2-1% of the Australian index S&P/ASX 200 was down 0.4%, Hong Kong Hang Seng Index – 0.31% index Shanghai stock exchange Shanghai Composite declining 0.1%, while Japan’s Nikkei 225 rose 1.85%. In our view, USD/RUB protorguetsya in the range between 62-63,1 ruble. EUR/RUB is likely to potorgovat in the area 72,45-73.7 ruble.
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Ivan Marchena,
Analyst
GK Forex Club