The ruble strengthened, despite the possible risks

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Russian ruble on Friday afternoon traded mixed and rather sluggish in a basket of currencies. The U.S. dollar is estimated to date 61,69 RUB (-0,02%). The Euro is trading at 73,62 RUB (+0,12%). Official rates of the CBRF at the weekend and on Monday, may 14, 61,73 make up a RUB for the American currency and 73,51 RUB for Euro. Both estimates revised for a fall, 79 and 66 cents, respectively.
Commodity market stabilized towards the end of the week. A barrel of North sea Brent grade of oil is worth $77,34 and decreases to 0.2% and a barrel of light oil WTI traded at $71,40 (+0,1%). Today degrees stock voltage with respect to Iran’s themes was reduced, as expected: yesterday’s optimism turned out to be redundant because there is no certainty that following the US decision to abandon purchases of Iranian oil will take other countries of Asia and Europe. In addition, here-here will join OPEC, which will be able by changing the quota to redirect a portion of lost volumes in the right direction.
Market sentiment in respect of the ruble is still quite positive. While investors do not pay attention to warning signals from the government of the Russian Federation: again renewed talk of raising the retirement age, and today they added the rumors about the likely sequester of spending on the social sector. This is not consistent with the brave statements of the Cabinet of Ministers on the budget surplus and confirms the lack of a clear idea of the condition of the Russian economy.
The US dollar to close Friday in the range 61,55-62,35 RUB, the single European currency – in the range of 73-74,00 RUB.
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Anna Bodrova,
Senior analyst,
Alpari