The ruble strengthened along with oil

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The ruble on Monday, is attempting to strengthen the background for this at the moment was favorable: in favor of the Russian currency is the return oil, as well as the factor of the tax period. The activity of investors remains low, as China continues to celebrate the New year, and in the United States celebrate presidents ‘ Day.
A barrel of Brent crude traded above $65.00 at the conditions of the next round of tension in the middle East. However, the increase in the production of raw materials in the U.S. to 10.27 million barrels per day and an increase in the number of drilling units to 798 units make us cautious in evaluating the prospects for further growth in the market.
The dollar, meanwhile, remains shaky due to fears of players associated with the fiscal policy of Washington. Interest this week will be the publication of the minutes of the January fed meeting.
Expected trading range for today is 55,95 – of 56.95 RUB/USD.
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Vladimir Zotov
Head of Directorate of financial markets
The Ural Bank for reconstruction and development