The ruble will continue to strengthen the exchange rate

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USD/RUB completed on Monday as a decline of 49 cents – 62,49 ruble, EUR/RUB for 55 cents, to 73,45 of the ruble on the support of quotations of “black gold”, according to the Libertex. The price of Brent crude oil continued to rise, ignoring data for drilling rigs from Baker Hughes showed an increase for the week to 5 Grand to 1052 units. As a result, trading barrel rose by 1.4% to 78.2 dollar also follows from the data Libertex. The main drivers of growth continue to be concerns about supplies to the world market from Iran, Libya, Venezuela.
It should be noted that the strengthening of the ruble to the “American” demand for risky assets, which began to return to the beginning of the week and oil prices has enabled a fairly high to take off the main Russian stock market indices, in particular, the index of Masuri be closed in steps from a historic high.
On Monday, the optimism has captured not only the Asian, Russian and European markets. U.S. stocks rose 0.88-1.31 percent. On Friday data on employment in non-agricultural sector of the country, but also positive in terms of consumer loans, data which almost twice exceeded expectations of analysts. In the end, the Dow Jones industrial average on Monday rose by 1.31% to 24776,59 points, the index of high-tech companies NASDAQ has raised on 0,88%, to 7756,2 points, the index of wide market S&P 500 also grew 0.88%, to 2784,17 points, according Libertex.
Morning again formed a positive external background: futures on American indexes are growing, Asian markets are trading mixed, oil prices show a positive trend and traded above $ 78 a barrel.
Futures on American indexes grow moderately in the range of 0,08-0,21%: the S&P 500 by 0.08%, on NASDAQ – 0,21%, Dow Jones – on 0,17%.
Asian markets are trading mixed: the Australian index S&P/ASX 200 declined by 0.33%, the index of Shanghai stock exchange Shanghai Composite falls by 0.28%, Hong Kong’s Hang Seng Index rising 0.16%, Japan’s Nikkei 225 gained 0.66%. 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 for 72.8-74,06 of the ruble.
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Ivan Marchena,
Analyst
GK Forex Club