The ruble remains resistant to oil fluctuations in the market
Over the holidays, the exchange rate of the ruble to the dollar was little changed despite the volatility in oil prices and a General reduction in the attractiveness of the currencies of the developing segment. With the return of market trading activity will increase, and investors will assess a number of factors when determining the motion vector of the ruble.
Last week sharply increased geopolitical tensions due to the deterioration of the trade conflict between the US and China. Negotiations have stalled, and now investors with tension waiting for the response of Beijing’s tightening of rates on the part of Washington. This is the signal for the further avoidance of risks and, as a consequence, the factor of pressure on the Russian currency.
In contrast to be are rising in price oil, which is grown on Friday and continues to strengthen in early trading on Monday. Brent tries to go back beyond mark 71 dollars per barrel, while the bullish momentum appears uncertain. Also soon will start the next tax period, which traditionally supports the ruble, weakening the pressure on him in times of stress. Given the unstable dynamics of the dollar on the Forex market, the dollar/ruble may continue attempts to decrease towards the level 65 rubles, but far from it will not go away.
Academy of management Finance and investment