The ruble today strengthened against the dollar and Euro by about 0.65%

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On Tuesday, may 21, at the end of the trading session on the Moscow exchange rate of the us dollar calculations “tomorrow” has decreased by 39 kopecks (-0,63%), to 61.21 Euro – by 54 kopecks (-0.75 per cent), to 72,06 RUB Trading volume in the pair dollar/ruble amounted to $4.4 billion (+10,00%), and Euro/ruble – 573 million Euro (+34,69%).
The Bank of Russia on 23 may set the official US dollar rate to ruble at the level of 61,261 RUB below the previous close in of 127.17 COP. the Official Euro to rouble was fixed at RUB 72,239 In comparison with a previous value of the single currency declined by 61,261 COP.
Trading on ruble pairs ended lower. The ruble strengthened against the dollar and the Euro by about 0.65%. In the first half of the auction, he received support from higher oil prices and sales by exporters of foreign exchange earnings to pay taxes. The dollar fell to 60,94 Euro – 71,82 to RUB.
At auction in Europe the price of Brent crude rose to $80,46. Traders remain concerned about future oil supplies from Iran and Venezuela on the background of prospects for introduction of U.S. sanctions against these two countries.
By the close of trading the ruble retreated from highs amid falling oil prices by 1.65%. Trading on ruble pairs ended lower. The dollar fell against the ruble by 0.63%, and the Euro to the Russian currency fell by 0.75%.
Wednesday, may 23, trades for oil in Asia opened lower. At the time of writing a barrel of Brent is $79,21 (-0,27%). Dollar to all major currencies in positive territory, but the yen and the franc. Given that the expensive yen, franc and gold, it is likely that we are seeing a withdrawal of investors in safe assets. And when this occurs, emerging market currencies are sales.
The opening of trading on the Moscow exchange on the pair dollar/ruble is expected in the area of 62,40 RUB and EUR/RUB – RUB 72,30
For the US dollar support is at the level of RUB 60,85 Buyers need to hold it, otherwise the downward movement will continue until the level 60,25 RUB Traders are now focused on the positive factors for the ruble. There’s nothing you can do about it, since they selectively choose price levels to close current operations and new purchases of the currency. If the dollar closes above 61,60 RUB then by Friday you can expect the price level 62,40 RUB.
Against the Euro the ruble strengthened at the time when it is sold in the Forex market, that is, in a moment of weakness and rising oil prices. In the Euro/ruble support is at the level of 71,60 RUB and resistance are the levels 72,82 73,25 RUB and RUB.
Today investors ‘ attention will be focused on the minutes of the meeting of the open market Committee of the fed.
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Vladislav Antonov,
Analyst
Alpari