The Russian ruble is kept steadily in the days of geopolitical intrigue

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The Russian ruble continues to trade sedately and steadily, continuing to grow inside its new shopping channel 66 and 67 rubles to the dollar and sementeras near the same average rate over the last week – 66,47-66,48 for a dollar and 75,20-75,35 rubles per Euro. We are still waiting for the meeting of the Bank of Russia this Friday and, apparently, against this background, due to the unwillingness of market participants to take on difficult calculated risk, in this way the auction will continue tomorrow, Thursday.
Today we await the publication of Russia’s GDP, which is scheduled for 16:00 GMT. According to the consensus forecast, growth is expected to slow to 1.3% in the 3rd quarter of this year, and it is unlikely we will see a worse figure than this. Thus, some of the intrigue is present on upside, but the range of its expected changes is not more than 0.2 p. p. As we predicted, a barrel of oil after OPEC meeting+ stabilized slightly above $60, and this increases the resistance and the Russian ruble.
South African Rand reaffirms itself as the most volatile currency in emerging markets. Last week price fluctuations in estimated unit South Africa were the most significant among 24 of its counterparts. Reasons for the illness of “small” currencies was enough. Market reign of geopolitical strife – from concerns about the trade dispute between the US and China to a political fiasco for Prime Minister Theresa may in the UK. During this period, the Rand has lost 3.5% against the dollar, which was worse than, for example, as volatile Turkish Lira.
Meanwhile, gold, which again manifested an increased interest of many investors and traders in connection with the described above specifics of time, now seems stable at around $1,249 per ounce. Although at $1250/oz the precious metal the first time failed to gain a foothold, technically gold looks very strong, and, in addition, to further strengthen due to the favorable intra-annual seasonal cycles, as we have repeatedly written before.
Vladimir Rojankovski,
“International Financial Center”