The ruble maintains a surprising calm on the geopolitical storms
The ruble maintains a surprising calm on the geopolitical storms, which continues to Mature into a full-fledged storm of relations between the U.S. and their main ally in the middle East – Saudi Arabia. What this means for the international oil market all well know from the history of uneasy relations between the two States. However, the oil is moving in the opposite direction logically suggest themselves, having chosen the level of $78,50 for Brent, as the market believed the words of the Saudis that “policy – politics and oil – oil.”
Most likely, in such a situation, complacency don’t stand a chance. However, after discovering the body of a murdered Arab-American journalist Hackage at the Embassy of Saudi Arabia in Turkey, the situation began to develop so rapidly and uncontrollably that the chances of trump’s “softly to hush up” this case is now the majority of experts regarded as negligible.
If so, then stiff opposition from Washington and Riyadh, which is heading inexorably to the denouement of this high-profile case, fraught with the explosive growth of prices of oil and gold. To gold, by the way, willingly joined the palladium, which reached a historic high at $1067,40 per Troy ounce. Palladium today is perceived by the market as a wholly-owned dual play (two in one) is a metal that is at once valuable for its belonging to the segment precious, but also very specific and irreplaceable industrial uses.
Speaking of gold, the night the king of precious metals shot up to its highest level since July 16 – $1236,60 per Troy ounce. Prospects of gold as from the point of view of technical analysis, and – from the perspective of geopolitics and seasonal cycles remain promising.
Meanwhile, the ruble still decided to focus not on the stormy gold, and calm in the moment oil, showing signs of stability. As of 13:45 GMT the domestic currency is trading at 65,20 the dollar – which, however, better level 65,30, bounding the lower bound of its exchange rate changes from the beginning of October and almost 75 Euro.
In General, most emerging market currencies now show stability and even some growing up in a small correction in the dollar Index DXY, descended from of 95.90 to of 95.70 for the past day, however, before the opening of the American markets (which is expected again in the red for all three key benchmarks) shows modest and not too Intrusive efforts to return to growth.
“International financial center”