The ruble stunning stable, why?
With the ruble today something strange is happening. More precisely, with him nothing happens, and it’s weird. Oil is back up, the barrel of Brent is now traded at $72,28 and can rise again. In the news flow, a lull, if you look at the statistics and the course of a trade war between the US and China. The stock market has returned bulls, but the ruble did not react.
On the site today talking about the growth of long Russian bonds, which lie in the ascending channel — the longest since the beginning of the year. This means that investors expect a more lenient approach of the Central Bank to monetary policy because the inflation component and weak GDP growth. Simply put, the economy clearly needs lower rates, and it is laid market expectations.
Now the ruble is stunningly stable. But, first, raw currency, and secondly, the currency of a developing economy. Therefore, it can be characterized by very sharp movements. It should not be forgotten.
The US dollar remains in the corridor of 64.35-65,00€, and that’s fine. Euro still went down under the turn of 72.00. and committed to the designated first target at 71,85 RUB.
“Information-analytical center “Alpari”