The ruble, sharp fluctuations are not expected

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At the opening of trading on Monday, the ruble has receded a bit, but is now trying to regain. In General, movement is limited and local in nature, despite the rapid strengthening of the American currency in the international arena.
The dollar, which looks good, have increased their attractiveness due to the decline of tensions between the US and China. Powers came to the consensus that it is better to do without the trade of war and to resolve the related contradictions in a peaceful manner. This played into the hands of “Americans” who already managed to update the highs of 2018.
Against this background, our currency looks quite stable and not amenable to strong pressure from the dollar bulls. A role is now playing the tax period, although its impact is limited due to large-scale interventions of the Ministry of Finance and the growth of dollar rates, which led investors to flee from emerging markets in favor of the us.
In General, the horizon of the coming week do not expect sharp fluctuations of the ruble, which will remain subject to downside risks as long as the dollar will not go to the correction across the entire spectrum of the market. Of course, it is important to remember the sanctions rhetoric. If Washington will once again raise this issue, our currency will suffer.
As for the oil factor, its influence remains minimal. Quotations of “black gold” traded at high levels, but show a bearish correction. While kickbacks are limited, the ruble will not feel extra pressure from that front.
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Roman Blinov,
The head of the analytical Department of the company,
“International financial center”