The ruble: the Stock market helps growth how can

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The ruble develops a cautious recovery from local minima. USDRUB on Friday morning again touched the mark of 65, further departing from the highs above 65.50. EURRUB is trading at 73.30, also indicating a small deviation from the achieved in the beginning of the week levels.
The growth of the ruble contributes to the recovery of demand for risky assets and positive dynamics of oil.
The ascent of stock markets once again are expectations of progress in trade negotiations, as well as the idea that the world’s Central banks will ease policy to support economic growth in light of the intensifying trade disputes.
Oil quickly managed to get back above the $ 60 per barrel Brent. In addition, the hopes for growth were supported by the representative of Saudi Arabia’s intention to “maintain in force the agreements on quotas and adjust them during the second half of the year, if required.”
Important news of the week – readiness of Russia and Saudi Arabia continue to coordinate its steps for the extraction.
Recall that Brent in recent years has come under very serious pressure due to fears of overproduction. The collapse of quotations in 2016 and 2018 have stayed on message about the readiness for the introduction of production quotas by Russia and Saudi Arabia. And signs that Russia is unwilling to continue to support this agreement in the second half of the year, volatility returned to the markets and made them highly sensitive to news about the pace of global economic growth, production and reserves.
At the same time, it is worth remembering that to a greater extent on the ruble in recent months, influenced by the mood in the stock markets. And then we have to pay attention to the growth of the dollar against the Chinese yuan and the Turkish Lira. In the first case, USDCNH rose to 6.96, staying one step away from multi-year highs in 6.9740. The Turkish Lira fell for a second day in a row, losing during this time is 2.5%.
The material is provided,
Company FxPro