Why ruble falls for no apparent reason?
Thursday, November 1, at the end of the trading session on the Moscow exchange, the dollar calculations “tomorrow” has decreased by 16 kopecks (-0,24%) to 65,72 Euro rose by 37 kopecks (+0,51%%) to 74,96 RUB.
Trading on ruble pairs showed different results. The ruble rose against the dollar and fell against the Euro. The fall in oil prices by 2.5%, to $72,73 per barrel of Brent, did not affect the ruble. The overall decline in the dollar index protected him from weakening on Thursday.
The dollar fell against the background of a sharp rise Kusov British and the Euro, and the ten-year us bonds. The pair pound/dollar rose on the background of statements of the Bank of England about the need for a more rapid increase in rates due to possible overheating of the British economy next year. Rally of EUR/USD pair was due to partial profit-taking by sellers after falling to 1,1302. This pushed their competitors of the dollar (new Zealand dollar, British pound).
Today, according to forecasts Alpari pair dollar/ruble keeps trading in the range of overwhelming 65.45 – 66 RUB, the Price of Brent crude has finally broken trend line at $75. The ruble remained without support. While it is being bought due to the weakening of the dollar. Preparing for the price to exit the range up and the dollar to RUB 67,11
The Euro/ruble also remains trading in a narrow range, but yesterday’s strengthening of the Euro against the dollar 100 pips makes me now look at the level 76,10 RUB Can be used to buy euros. Many traders and investors holding back the uncertainty around Italy’s draft budget for the year 2019.
The ruble has entered a phase of weakening, so do not be surprised by an unexpected sharp strengthening of foreign currencies for no apparent reason. Be sure to track the dynamics of prices n oil and index RGBI.