What will happen to the ruble, the expert gave a forecast for February

  • And
  • +A

January proved to be a very auspicious month for the ruble. A prolonged shutdown in the US and problems with the adoption of a plan for Brexit in the Parliament of Britain drew off the attention of legislators with the topic of sanctions against Russia. In addition, the drop in the markets late last year has forced the Central banks to soften the rhetoric that supported the demand for risky assets. In the Wake of expectations that the regulators will not rush with policy tightening, and perhaps even willing to alleviate some of the policy settings, as did the national Bank of China.
All this supported demand for riskier assets, helping the ruble to rise in early January. In the second half of the month against the ruble began to play, that oil has ceased to grow, and the Bank of Russia has returned to the markets with the purchases of foreign currency for the execution of the rules of the Ministry of Finance.
Generally speaking, February is often a good month for the ruble. This time can be different, and after a strong January, the ruble may not be so easy to move on the Euro and the dollar. However, the baseline scenario is still the attitude that the dollar/ruble will fluctuate within the range of 64-66, and the Euro/ruble may get support from 74.
It is likely that in February the currency found the bottom 64 to the dollar and 74 to the Euro, and will lay the foundations for further growth.
__________________________
Alexander Kuptsikevich,
Analyst
FxPro