The ruble will strengthen the decline in new statements trump

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Thursday, April 5, at the end of the trading session on the Moscow exchange rate of the us dollar calculations “tomorrow” increased by 26 kopecks (+0,46%), to 57,71 Euro – by 6 kopecks (+0,09%), to 70.62 RUB Trading volume in the pair dollar/ruble amounted to $3.1 billion (-9,67%), and Euro/ruble – 407,5 million euros (+10.73 per cent).
The Bank of Russia from April 6 to set the official US dollar rate to ruble at the level of 57,5796 RUB below the previous day 18,50 COP. the Official Euro to rouble was fixed at RUB 70,5926 compared to the previous value of the Euro exchange rate decreased by 36.54 COP.
Trading on the domestic foreign exchange market opened higher on ruble pairs. Against the background of General strengthening of the U.S. dollar, the ruble fell against the dollar to RUB 57,78, Euro 70,80 to RUB.
For the American currency favorable impact of the reduction of tension regarding the threat of escalation of the trade war between the US and China. The U.S. government has expressed a desire to conduct negotiations with China regarding trade relations. However, as was demonstrated by subsequent events, the situation here is more complicated than it seems at first glance. However, at the end of the day oil prices rose, and world stock indices closed with a growth of 0.5% – 1%.
On Friday, April 6, at the auctions in Asia a barrel of Brent fell 0.8% to $67,98. Also strengthened the Japanese yen, the Swiss franc and gold, which points to the next flight of investors in assets sewn up. It turns out that after closing the American session, the White house published the behalf of Donald trump trade Ministry to consider the introduction of additional tariffs on Chinese goods to $100 billion.
The US authorities believe that China did the wrong thing, raising tariffs on American goods, but always add that are open to negotiations to reduce the U.S. trade deficit. Because of this uncertainty on the world markets will remain impulsive bi-directional price fluctuations on assets.
China officially initiated proceedings in the WTO in connection with the introduction of U.S. import duties on aluminium and steel as they are selectively brought them into the attitude of the members of the WTO. Today we need to wait for the response from China over the planned lifting of tariffs.
The opening of trading on the Moscow exchange on the pair dollar/ruble is expected in the area of 57,90 RUB and EUR/RUB – around the level of 71.00 RUB Of the trade war with China for the dollar there were preconditions on Friday to close above 58 RUB In EUR/RUB resistance level will be 71,40 RUB.
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Vladislav Antonov,
Analyst
Alpari