Trump “Navitel” on the collapse of oil 3%
The ruble opened today with a slight decrease due to correction in oil (see below) and as of 12:30 GMT traded at 65,61, compared to yesterday’s value this time of 65.22 rubles to the dollar, so that the range of 65-66 per dollar is still relevant. Strong movements in the domestic currency is not marked, although not well understood why some masters titles in the Russian online media decided not to wait for actual events, and instead encourage their readers a little toning portion of invented panic. In fact, the main cause some deterioration in sentiment was a tweet yesterday U.S. President J. trump that “Opechowska oil again too expensive.”
As a result, the emotional price of oil fell 3%. Trump wrote on Twitter about OPEC from the beginning of December, so this was his rant on the eve of his departure for another meeting with his new friend Kim Jong-UN, has not gone unnoticed. Literally he wrote the following: “…oil Prices become too high. OPEC, please relax and calm down. The world will not be able to digest another increase in prices – [too] fragile!”.
Wrestling acumen with which trump has begun to show the way all markets can not umilyat not westergate. The problem is that for Saudi Arabia, as its representatives repeatedly said – and, moreover, practically in the open – $60 – low level on the basis of their economic structure and expenditure budget, and for trump, on the contrary, this strap each time it becomes a limit of patience.
For the Russian budget and in a good mood for Russian producers of “black gold” oil at $50-60 per barrel, in principle, is in the comfort zone, and yet the word of the Saudis in this “endless dance” – by far the more important, since Russia continues to operate within the cartel only as an external consultant. Another important factor pushing the price of black gold higher and higher – the notorious geopolitical conflicts, and specifically, the situation in oil-rich Venezuela. But in this case, to warn external “players” is pointless – the topic of trump’s homegrown.
Meanwhile, trump is on the verge of defeat in his not quite the correct use of emergency funding for the border wall with Mexico. Just another vote Republican in the Senate is required in order to block an emergency Declaration trump. However, the majority of the members of the Republican party in the Senate says that, although they do not support trump’s decision to declare a state of emergency in the country with the aim of obtaining additional funding for the border wall – however, they are not prepared in the same way and to an open confrontation with trump and don’t want to talk about how they will vote, that will hurt him the voices in his intentions, or most of them solve from sin to abstain.
Meanwhile, returning to the “native land”, it is necessary to focus on another interesting topic. For the third straight week, investors are closely watching the success of minfinovskih placement of OFZ on the new scheme with an “unlimited” volume of proposals. So far the only positive in anticipation of the next tranche this week is the lack of plans at the Central Bank competing emission COBRAS, which are known to have passed through a similar scheme unlimited. Recently a real market depth is not more than 70 billion rubles a week. While the activity of non-residents for obvious reasons is very limited, in my opinion, much need weekly to use as a test, expensive “fishing sounder,” no.
“International Financial Center”