The ruble supports the payment of taxes, but the oil can spoil everything

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Thursday, October 18, at the end of the trading session on the Moscow exchange rate of the us dollar calculations “tomorrow” increased by 32 kopecks (+0,49%), to 65,82 Euro – by 14 kopecks (+0,19%), to RUB 75,42
At the end of the day the ruble a little lost ground to the dollar and the Euro. Its weakening has caused the decline in oil prices and index RGBI, as well as the strengthening of the U.S. dollar. A few days ago began the period paying taxes, and now exporters are selling foreign currency earnings kept the ruble from falling.
The greenback continued to gain ground to all major currencies after the publication of minutes of the U.S. Federal reserve on Wednesday. The regulator plans to continue to raise interest rates. Additional support for the grinbek had several pactool: growth of profitability of 10 year bonds, the uncertainty of Brexit and the increase in yields on 10-year Italian bonds due to the rejection by the European Commission Italian budget for 2019.
On Friday, October 19, Brent crude is trading in positive territory. Given that the price of black gold has settled below $80 a barrel is under pressure, there are risks to go even lower, to $77,50 per barrel.
In the pair dollar/ruble observed consolidation. After it the price should go down. The fall in oil prices could change the market sentiment and exit then it will be up. Monitor the levels of $78,45 and $80,10 per barrel. To customers in the oil to seize the initiative, they need to slip a level of $80,50 per barrel. Don’t see ideal levels for purchases of foreign currency. Pair of Euro/ruble again expect a drop to RUB of 75.25, created the conditions for growth.
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Vladislav Antonov,
Analyst
Alpari