The uncertainty in world markets and the expectation of new sanctions weaken ruble

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The Russian ruble this afternoon retreats to a basket of currencies. A certain deterioration of the external background, barely connected with Russia directly exerts pressure on the ruble due to fluctuations in the currencies of the U.S. and the Eurozone. The dollar to date is 57,93 rubles (+0.4 percent). The Euro is trading at 70,89 rubles (+0.4 percent). Official rates of the CBRF at the weekend and on Monday, April 9, amount of 57.83 RUB for the American currency and 70,70 RUB for Euro. Both estimates revised to increase by 26 and 11 cents, respectively.
The oil market remains in the red zone. A barrel of North sea Brent traded at $67,90 (down 0.6%). Investors have already factored in the price of raw material information from Bahrain, where it was openly the largest Deposit of shale oil. In this field in the future – in five years – will be able to work in a foreign company. In the market say that the oil is likely to be tight, but its price could be compared with American shale oil.
Foreign trade war, in which Moscow is not yet involved, dictates the terms major world currencies. Locally on the ruble puts pressure and expectation of new sanctions against names.
The US dollar will finish today’s trading range 57,70-58,25 Euro and spend the rest of Friday in the hallway 70,50-71,15 RUB Today too few drivers, to increase the exchange’s activity. This leaves hope for the second half of the day when the U.S. will release statistics for March, the labor market, and currencies will be forced to respond to the important data.
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Anna Bodrova,
Senior analyst,
Alpari