The ruble will have to wait for the publication of protocols fed
Despite the correction which began with the opening of the trading session on the currency pair dollar/ruble is the main goal remains the same range 60,27 – 60,60. The level shift of the downtrend from 02.05.2018 moved to the area 62,62.
The fundamental situation on the ruble remained the same. The national currency supported by high oil prices. Brent is trading near $ 80 per barrel. The main risks also remain, namely the introduction of new economic sanctions, rising us yields.
Today’s most important events including for the ruble will be the publication of minutes from the latest U.S. Federal reserve meeting. It can indicate the future pace of monetary policy tightening in the United States. At this stage, the main scenario implies at least two interest rate hike by the fed before year end. However, the likelihood that raise more than two times preserved.
First, inflation in the US continues to grow. Secondly, indirectly, this is indicated by the rising yields of us bonds, which will increase the growth of activity in the debt market of the US Treasury. It is possible FOMC minutes today will shed light on further actions of the fed.