The ruble: the Sale of government bonds in Russia led to the fall
The closer the end of the year, the more nervousness in financial markets. Falling oil prices may force OPEC+ again to reduce production. Sale on the market of government bonds of Russia led to the decline of the ruble.
Financial markets continued fever. We see another decline on the us stock exchanges. On Monday the us stock indices dropped between 2 to 2.8%.
To single out any specific cause of such a collapse is difficult. You have to understand that right now the stock market in General is pretty much a fever. The fed raises rates, reduces the balance of assets, declining oil prices, and all this encourages investors to flee to protective assets. That is why the American dollar is rapidly growing in the international currency market.
OPEC+ already sounded the alarm regarding the current situation on the energy market. The Minister of energy of Saudi Arabia Khalid al-falih said the need to cut oil supplies. This statement was made after an extraordinary meeting of the monitoring Committee of OPEC+. Quotes black gold recently lost almost 20%. It can not to disturb participants of the market. All this nervousness has a negative impact on the Russian market.
This morning at the auction of the Moscow exchange the dollar and 67 rubles 65 kopecks, the Euro traded at 76 rubles 10 kopecks. The MICEX index dipped to 2385 points, and oil quotations of mark Brent has fallen below $ 70 per barrel. The exchange rate of bitcoin is around 6400 dollars – according to the website CoinMarketCap.
The decline in oil prices, nervousness in international financial markets and the clearance of the state debt of Russia – all this has led to the depreciation of the domestic currency. Recall that previously, we have repeatedly stated the need to buy the dollar in the range from 65 to 66 rubles. In this range of the quotes was quite a long period of time. In fact, from late September to early November was a huge amount of opportunities for shopping.
We called the goals mark 67 – 68, which in our opinion had to be achieved towards the end of the year, but the plan was realized much earlier. Those who have previously used our recommendations, we congratulate a profit. However, we maintain the forecast for the growth of the American currency against the ruble. It is likely that soon the Euro will rise even more rapidly than the dollar. It could be a reversal in the currency pair Euro/dollar on Forex. However, this story is likely to be implemented towards the end of November – beginning of December.
The head of the analytical Department of the company,