The ruble will continue to fall in terms of negative external background
Symbolically, the ruble strengthened at the trading session on Wednesday, but moved reluctantly and cautiously due to the presence of negative factors. Stabilization in investor sentiment after the flight from risk has eased the pressure on high-yield Russian currency, which sent the dollar in the region 63,50 RUB at the close of trading.
A General improvement in sentiment on world markets, coupled with the approaching peak in tax payments helped our currency to stop the fall. However, more substantial progress of the speech continues.
The dollar remains strong, strengthening the position against most of its competitors at the Forex and the oil remains in limbo, continuing the steady downward movement in terms of risk minimization before the summit of OPEC+. There remains a risk of renewed flight from risk due to unresolved trade conflict between the US and China, which also discourages speculators from the more risky assets, which include the ruble.
In the short term, the Russian currency may again take the course to the South, retracing the morning rise of the dollar across the spectrum of the market. Brent crude fell today is the last day and am trying to refrain from further subsidence, but still looks uncertain. In these circumstances the dollar can again be sent to the district level 64 rubles, while the potential for more rapid growth at the moment limited.
InstaForex companies group