The ruble: Sustainability raises many questions

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The ruble is poised Thursday afternoon. Recently ruble pair react to information, statistics and trends very selectively. The US dollar to date, growing up on the symbolic 0,05% and costs of 65.72 EUR RUB adds 0.2% and is trading at RUB 74,94 rates of the Central Bank of Russia for tomorrow, October 26, are 65,74 RUB per U.S. dollar (+12 cents) and RUB over the 74,98 € (-10 cents).
The price of oil by mid-day stabilized after a rather gloomy start of the session. A barrel of Brent traded at $76,18 (+0,01%), the barrel of WTI is losing 0.1% of the weight and costs $of 66.75. Yesterday’s data from the US Department of energy is already priced in, since the API release, published earlier, was even more unpleasant for the market. However, the voltage from Saudi Arabia and the “Iranian” history of the United States subsided somewhat, and that was the basis for local price stabilization.
The U.S. dollar, incidentally, is also inactive to date on the world market. It may well be that the major movement in the Euro/dollar will happen after the results of the ECB meeting and the publication of an evening of American statistics.
The market laughed at the monetary statements of Russian politicians about the unprecedented growth of wages in the country – it’s hardly noticed by anybody, except officials. In the domestic news of this nature, investors do not pay attention. Regarding the likely outcome of tomorrow’s meeting of the Central Bank of the Russian Federation also nobody cares: as long as inflation does not rise to peak and not stabiliziruemost, the controller will not change the level of the key rate.
The US dollar closed today’s trading day in the range of 65.50-66,25, the Euro will complete the session within the boundaries of the 74,70-75,35 RUB.
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Anna Bodrova,
Senior analyst,
Alpari