The ruble will continue to fall in “thin market” under the pressure of the oil

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The dollar ended on Saturday, rising against the ruble on 22 kopecks, EUR/RUB rose by 33 cents, to 73,66 of the ruble against the background of profit fixation by the players before the weekend, according to data Libertex. Also the pressure on the ruble has had a declining price of oil.
Indices rose amid the first day of the summit “the Big seven”. In the end, the Dow Jones industrial average on Friday rose 0.3% to 25316,53 points, the index of high-tech companies NASDAQ by 0.14% to 7645,51 points, the index of wide market S&P 500 by 0.31% to 2779,03 points, according Libertex.
American morning are trading mixed: the Dow Jones rises by 0.06%, the NASDAQ declining by 0.07%, the S&P 500 index by 0.04%. Asian markets are also moving in different directions. The index of the Shanghai stock exchange Shanghai Composite decreases by 0.71%, the Australian index S&P/ASX 200 slipped 0.2% and Japan’s Nikkei 225 was up by 0.48%.
In the morning the oil quotes drop by 0.27% to 76.25 dollars per barrel. The price of oil is cheaper in anticipation of the OPEC meeting+. In our view, USD/RUB protorguetsya in the range between 62 and 63 of the ruble. EUR/RUB is likely to potorgovat in the area 73-74,2 rubles.
Ivan Marchena,
GK Forex Club