The ruble steadily declining before meetings of regulators

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Russian ruble on Wednesday afternoon returned to a weakening in a basket of currencies after quite neutral in the morning. The US dollar stands to date 61,88 rubles (+0.4 percent). The Euro is trading at 75,49 RUB (+0,15%). Official rates of the Central Bank of Russia for tomorrow, April 26, be 61,74 RUB for the American currency and 75,32 RUB for Euro. Both estimates revised to increase 8 and 11 cents, respectively.
The sector of oil to the middle of the session went into hibernation. A barrel of North sea Brent traded at $73,77 (-0,12%), a barrel of Texas light oil WTI symbolically becomes more expensive and costs $67,71. Data released yesterday from the American petroleum Institute showed that oil reserves grew last week by 1.1 million barrels, while gasoline stocks and distillates fell by 2.72 million and 1.91 million barrels, respectively. Today the market is waiting for the evening report US Department of energy that shows the official point of view on this matter. Average market forecasts based on surveys by Bloomberg shows expectations of a decline of 1.5-2 million barrels. If the official statistics will coincide with the expectations of the oil bulls can once again rush into battle.
Today, the RF Ministry of Finance continued carrying out of auctions on placement of OFZ. In the official section on the Agency’s website is the result of only one of the two auctions release 26223 volume of RUB 15 billion demand for the bonds amounted to 49 billion rubles. Now the main thing that did not work like last time – the first of the auctions went great, and the latter actually fell. The OFZ sector as a whole is slowly returning to “to April” levels of demand, but investors are still cautious in shopping.
The US dollar will finish today’s session at within marks 61,50-62,45 RUB and Euro – RUB the borders 75-76 Major movement in the ruble pairs, most likely, will occur Thursday and Friday, because these days there will be meetings of the ECB and the Central Bank on interest rates.
Anna Bodrova,
Senior analyst,