The ruble will not be able to ignore the oil price

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In ruble pairs to the middle of the day on Friday increased investor activity. The US dollar to date is more expensive by 0.3% and is trading at 65,79 RUB Euro retreats of 0.3% and is 74,64 RUB Official rate of the CBRF at the weekend and on Monday, November 26, be 65,66 RUB/USD (raised to 6 cents) and 74,93 RUB/EUR (increased by 13 cents).
The oil market is clearly going down. A barrel of Brent is getting closer to the designated target support at the $60,50, now it is trading at a $style, 60,95. Thus, bidders, apparently, react to the latest data from the US Department of energy, where he confirmed a ninth consecutive week of growth stocks of black gold. The statistics came out the day before, but “came” to the data just now. Against the oil bulls, among other things, plays the daily strengthening of the dollar.
In order for an avalanche of sales on the commodity market anymore, we need a strong catalyst. They could be, for example, the statements of the OPEC+ readiness to restrain production, but it’s proved only Saudi Arabia, where the daily pumping of oil decreases. Russia, like other countries-oil producers, the rock is now at its maximum values. USA, too, and this increases the possibility of spread of the surplus supply.
If oil prices continue to fall in price, the ruble will not be able to stand in the side of the so-called “positive” from nevvedeniya right now tough anti-Russian sanctions will not work here as support.
The US dollar today closed trades within 65,65-66,15, the Euro will be spent on a weekend in the borders 74,50-of 75.25 RUB.
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Anna Bodrova,
Senior analyst,
Alpari