The ruble without oil does not want to grow
Russian ruble on Wednesday traded mixed in a basket of currencies. The US dollar stands to date 62,45 RUB and decreases by 0.5%. The Euro is trading at RUB 72.50 per person (+0,15%). Official rates of the Central Bank of Russia for tomorrow, may 31, 62,59 make up a RUB for the American currency and space of 72.52 RUB for Euro. Both estimates revised downward, to 5 cents and 0.5 of a penny respectively.
The commodity market was a plus, but given the magnitude of the oscillations before, you should not relax. A barrel of North sea Brent is estimated at $75,68 (+0,2%). A barrel of Texas light oil WTI give $66,81 (+0,1%). Tonight the American petroleum Institute will present weekly data on stocks of oil and oil products. This time the market is very cautious in assessing the forecasts: last week, data from the API and the US Department of energy is seriously gone. The average of analysts ‘ expectations suggest a decline of oil reserves by 1 million barrels.
Today the Ministry of Finance of the Russian Federation will hold the next auction on placement of OFZ in two editions. They are later than usual, so the demand for rubles on the domestic market may occur in the next couple of hours.
In General, for ruble pairs until nothing changes. Internal background in Russia remains very difficult for long-term investors. Today’s session will be for the pair dollar/ruble in the range 62,2-of 63.00 rubles, and the Euro/ruble in the corridor 72,25-73,25 RUB.