The ruble strengthened before the meeting, trump and Putin

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Thursday, June 28, at the end of the trading session on the Moscow exchange, the dollar calculations “tomorrow” fell by 43 kopecks (-0,68%), to 62,80 Euro – 42 kopecks (-0,62%), to 72.65 RUB Trading volume in the pair dollar/ruble amounted to $3.5 billion (0,0%), the Euro/ruble – €615,5 mln (+0,16%).
The Bank of Russia from June 29 to set the official rate of the US dollar against the ruble at the level of 63,2910 RUB that above the previous close by 15.51 COP. Official Euro to ruble exchange rate was set at around RUB 73,0884 compared to the previous value rate decreased 51,54 COP.
On Thursday, the ruble slightly strengthened its positions against foreign currencies. The growth rates amounted to approximately 0.6%. The positive dynamics of national currency provided the oil market and the forthcoming meeting between Vladimir Putin and Donald trump, which is scheduled for 16 July in Helsinki.
Traders and investors were buying the ruble on expectations of a possible warming of relations between Russia and the United States. The price of oil has risen amid concerns about supply from Libya and Iran. The increase was offset by $78,38 per barrel.
The dollar/ruble and Euro/ruble will remain to be traded in wide ranges. High oil prices do not give a ruble to fall below 64 rubles per dollar. On Friday, June 29, the dollar will remain sideways movement around RUB 62
Dynamics of the pair Euro/ruble will remain in the range 72,55-73,66. At the opening of Mosuri the ruble is likely to weaken the Euro 30-40 cents because of a stronger Euro on Forex. In the Asian session, the single currency sharply to imitate all of the major currencies on the statements of the head of the European Commission Donald Tusk, the leaders reached agreement on migration.
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Vladislav Antonov,
Analyst
Alpari