The ruble scare prospects of sanctions, not their presence
Russian ruble on Friday remains in a weak position. It is quite natural, taking into account external background and the gathering over the currency market clouds, which we have said in the past. The US dollar at the time of writing the review is 67,41 EUR RUB RUB is trading at 76,59
Rates of the Central Bank of the Russian Federation on the weekend and on Monday, November 12, 66,85 make up a RUB for the American currency (the dollar rose by 64 kopecks) and 75,67 RUB over the Euro (the European currency increased by 0.14 kopecks).
The commodity market is ready to update the August lows, as soon as possible. On the one hand, for black gold has a negative recent strengthening of the U.S. dollar and the dollar index. On the other, as mentioned earlier, all incoming fundamental news are for the oil market exceptionally minor character. The barrel of Brent rises 0.1% on month and costs $70,73. The technical picture is a probability of continuing the sequence in the region of $65, the more that strong support at atmake $70,50 today has already been successfully attacked.
For the ruble and the Russian economy in its purest form the new us sanctions against Crimea and individual companies located there, are limited. This is another step in the direction of global deterioration in the Russian business reputation on the world stage and complications potential financial terms, but the new measure, only the brick in a large wall of sanctions.
The U.S. currency will finish today’s trading in the range of 66.65-67,45, the Euro closes the day within the boundaries of 75,60-76,50 RUB.
Analyst At Alpari