The ruble will round up the week with drop

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The ruble finishes the week a moderate weakening in the face of declining global risk appetite. At the same time, the dynamics of the Russian currency looks better than its competitors, thanks to the strong macroeconomic performance and stable high oil prices.
“Black gold” is trading above $ 67,50./a barrel of Brent because of fears that sanctions against Iran will lead to reduced supply in the market. Another threat is related to the blackout in Venezuela, which caused disruptions in the work of ports and refineries on the territory of the Republic. Addressed to OPEC’s calls for the White house Donald trump about the need to increase the extraction of raw materials still remain without reaction.
Friday optimism to investors has added news that the US and China resumed trade negotiations, and Beijing agreed to make some concessions. In particular, the PRC may extend access to the domestic market to foreign banks and to adjust the position in disputes about intellectual property.
Expected trading range for the coming week is 63,95 – 65,95 RUB/USD.
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Olga Belyaeva,
The head of the press service
UBRD