The ruble maintains a steady neutrality amid geopolitical storm
Russian assets remain extremely robust on the back of seven cross-storms of geopolitics, blowing on foreign markets. Thus, the administration of French President Makron state of emergency in the economy and the social sphere was forced to think about the precariousness of the founding of the European Union, vengeance manifested in 2010-2011 during the crisis of the PIGS countries, and the defeat of the British Prime Minister Theresa may with her plan Brekzita protracted and intractable border issues, makes one recall how George Soros in 1992, has put the Bank of England to its knees, and in the process of speculation against the British pound has appropriated over a billion dollars.
Now, as a result of the tumultuous events of yesterday, the British pound once again catches everyone’s attention. At the moment, after the release of the news on a sensational message about the decision of Theresa may to postpone the next referendum on Brickset, the British pound dipped significantly for a full cent to the level 1,2522, but later managed to recover to 1,2623. The main problem here lies in the fact that the British now can simply not have time to vote for the streamlining and harmonization of this complex “division of property”, as the final road map requires to complete Brexit in the final period to 29 March next year.
A separate deserves the respect of the Russian stock market, which in recent years shows more and more days of recorrelate with the us stock indices. Good results shows and gold. Although yesterday in the us trading session, literally physically felt, as a strengthening dollar Stokes one of its two main competitors (the Euro), today’s open in Asia, buying has resumed, and as of 12:30 GMT Troy ounce of precious metal was again worth over $1250.
In our opinion, the growth of gold has a seasonal cyclical in nature, and in the coming weeks, his growth should continue. The dollar index DXY, after a hike to a mark of 97, today re-rolled to 96,93, however, “arizonapayday correction” seem to have camischolas.
Russian rouble today, as expected, maintains a proud neutrality, trading near its average level over the past week – 66,47 per dollar and 75,65 Euro. The probability that before the meeting of the Bank of Russia will we see any significant exchange rate movements, other things being equal (i.e. no non-standard non-financial news) is very small. A barrel of oil after OPEC meeting+ stabilized near $60 per barrel Brent oil price, which seems to suit everyone, and at least on this front, no intrigue in the direction of the ruble anymore.
“International Financial Center”