The ruble will remind you of the sanctions risks

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The Russian currency strengthened last week, returning the dollar under 64 RUB mark on Monday, the ruble does not show clear dynamics, but after the neutral start of the session begins to show a slight bearish bias. Now our currency is influenced by a number of factors, starting with the General attitude towards risk and ending with signals from oil market.
At this stage, the purchase of risky assets is dominated by the reports of telephone conversations, which were held by officials of the US and China at the weekend. The parties agreed to continue their dialogue aimed at the conclusion of the first stage of a trade transaction. This factor, along with the beginning of the tax period speaks in favor of the strengthening of the ruble. But in the upcoming week for the domestic currency can be realized downside risks. In particular, on Wednesday the international Committee of the U.S. Senate will start discussion of the draft laws on the introduction of anti-Russian sanctions. The fact of the resumption of the debate on policy towards Russia bears a negative for our assets in General.
Against this background, in the coming days, the pair dollar/ruble may again aspire to the level 64. and again to turn it into a support, whereas the role of the key local resistance will be the area 64,40 RUB, blocking the way to the 200-day moving average in 64,60 RUB Additional pressure on the “Russians” able reduction in oil prices, which on Monday trying to hold above 63 USD per barrel.
Arseniy Dadashev,
Academy of management Finance and investment