The ruble strengthened against the dollar near the 62.80 mark

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On Monday the ruble strengthened against the dollar and was little changed against the Euro, mirroring the Euro/dollar in the international arena. The main factor of support for our currency became the peak of tax payments. The dollar/ruble at the end of the session and settled around 62,80 RUB, to stay above the key moving averages.
In addition to the tax period in favor of the ruble has played the dynamics of the dollar. The us currency is feeling the pressure from aggressive trade policies trump, which causes a reaction of its trading partners and thus unnerving investors. Risky assets also suffer from the growing threat of fomenting a trade war, and the ruble is no exception. In a more relaxed atmosphere “Russian” could show more clear local rise.
Of the next factors that will determine the future trajectory of the ruble, we can distinguish the situation in the world – above all, the development of relations between the US and China; the behavior of oil prices based on the results of the OPEC meeting, which turned out to be unintelligible; as well as the General sentiment on the dollar, a resumption of demand for which can easily deploy the pair dollar/ruble up with the next goal on 63,20 RUB.
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Igor Kovalyov,
Analyst
InstaForex companies group