The ruble will fall below $ 63 per dollar
Last Friday, the ruble showed multidirectional dynamics, entrenched in tandem with the Euro and down against the Euro. This behavior of “Russians” reflect the external environment, where the Euro soared on the agreement of the EU migration policy, pushing the U.S. currency. Following the session, the dollar/ruble went under the mark of 63 RUB and EUR/RUB back above 73 rubles.
The ruble is largely influenced by external signals, dutifully following the “instructions” from the international market Forex. The oil thus having a secondary impact on the health of our currency. The dollar, despite a local retreat, remains at a high and rather strong position in the medium term thanks to good economic indicators, justifying a further rate hike by the fed. The situation on the market of black gold speaks in favor of high prices, but generally unstable.
This morning oil prices have corrected sharply from highs near $ 80, reached on Friday. Trump stirred up the markets, wrote in Twitter about the willingness of the Saudis to increase production to 2 million barrels per day. Despite the fact that later this information was refuted – it was about the available capacities of the Kingdom – prices have been adjusted, including due to the proximity of an important psychological level. Meanwhile, the dollar again grows in the Forex market, coupled with profit-taking on oil prices will lead to a reduction of the ruble at the opening of trading on Monday. In the first half of the day, the dollar can easily come above the level of 63 RUB and is likely to remain under pressure during the session.
InstaForex companies group