The ruble remains in unprincipled drift

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The Russian currency continued to consolidate around RUB 62, where up on Monday. The dollar in the second half of the day returned to growth in the international Forex market, which prevented the strengthening of the ruble. The Euro/ruble also returned to the original position in the area of 72,4 RUB.
Over the past month, the ruble is trading in a narrowing range, and is almost marking time. Now this range is indicated by levels 61-63 RUB, and the course is situated in the middle of the channel. Consolidation can be partly attributed to some calm on the sanctions front, the more relaxed dynamics of oil and the slowdown of growth momentum of the us dollar in the international market. At this stage there is no indication of the current channel, but if you experience any significant factor of movement in either direction is going to be quite aggressive.
Before there are rumors that Russia and the United States preparing for the meeting. However, later this information was refuted. If in the future there will be signs of a possible thaw in relations between the two powers, the attractiveness of the ruble will increase, primarily due to the reduction of the threat of new sanctions. In the meantime, the dollar/ruble will continue to consolidate close to current levels, if in the near future the market will not come significant shocks.
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Igor Kovalyov,
Analyst
InstaForex companies group