The ruble withstands the external pressure

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The ruble on Wednesday, trying to withstand external pressure, with the encouragement of the growth of sales of export proceeds within the framework of the tax period. Among other factors positively influencing the course of national currency – maintaining the attractiveness of the Russian OFZ in the eyes of investors, as well as the likely increase in the sovereign rating of the Russian Federation this coming Friday.
The dollar, meanwhile, continues to rise moderately against the major world currencies before the publication of the minutes of the January fed meeting. Players expect that the document will help to understand the basic policies of the regulator, in particular – to obtain information about the upcoming rise in interest rates.
Oil went negative on the background of expanding production of raw materials in the United States, which soon can become a global leader in terms of daily production.
In this connection, particular importance are data on U.S. stocks from the API and EIA, which this week published with a delay due to the holiday on Monday. However, the continuing tensions in the middle East and OPEC actions+ keep the “black gold” from a substantial fall.
Expected trading range for today is 56,20 – 57,20 RUB/USD.
Vladimir Zotov
Head of Directorate of financial markets
The Ural Bank for reconstruction and development