Ruble in the evening varies little against the dollar and Euro


According to the data of the Moscow exchange, the dollar calculations “tomorrow” to 18.11 GMT 64,56 decreased to rouble, the Euro rate to the ruble 69,35.

MOSCOW, 9 Nov. Dmitry Mayorov. Courses of the ruble against the dollar and Euro on Monday evening, little changed about the closing levels of last week, with a slight tendency to increase.

Moderately positive dynamics of the oil market has supported the ruble and kept the dollar and Euro against exceeding key levels 65 and 70 rubles respectively.

The dollar calculations “tomorrow” to 18.11 GMT decreased by 0.04 ruble — to 64,56 rouble, the Euro rate by 0.05 ruble — to 69,35 ruble, follows from the data of the Moscow exchange.

Outset

The ruble against the dollar during the session on Monday showed no single trend, reflecting fluctuations in the oil market.

So, in the morning “black gold” remains under pressure, with labour trying to keep the level of 47.5 per dollar. As a result, the dollar and the Euro tried to enter the key level 65 and 70 rubles respectively. For the dollar this high since the end of October and for the Euro — week.

However, Brent crude oil has kept the level of 47.5 per dollar and even tried to gain a foothold above 48 dollars to support the ruble. Because of this major reserve currencies is not enough to grow round the levels a few cents, then the ruble offset the decline and then went into a plus.

Support to the oil, in turn, has provided a statement of the Secretary-General of OPEC Abdullah al-Badri that in 2016 the oil market will become more balanced, as the demand for “black gold” will continue to grow.

According to a report by the International energy Agency (IEA), which was published in October, growth in world oil demand in 2015 will accelerate to five-year high of 1.8 million barrels per day.

In addition, investors are awaiting another OPEC meeting to be held on 4 December. The cartel plans to discuss policies in the field of mining.

As a result, in the evening, the dollar and the Euro lost slightly against the ruble, consolidating after rising last week.

Forecasts and recommendations

The attention of the capital markets are gradually shifting in the direction of reports about oil stocks and the Chinese statistics, said Dmitry Gurkovsky from RoboForex.

“Earlier in the week may be quiet, if external background will remain neutral. While special risks not visible. Trading Tuesday, the dollar will hold in the range 64,25-65,10 ruble. Euro potorguemsya in the hallway 68,85-69,65 of the ruble,” he predicts.

This month there will be a curtailing of the carry trade using US dollar, says Sergey Kochergin of the company Exness. Russia this process will be affected to a lesser extent, as it actually almost one and a half years cut off from Western capital markets (and from 2014 the external debt of Russia decreased by almost a third), he added.

“November 10, the CBR to support the ruble, if we reduce the limit of ruble liquidity at the auction ruble REPO, to less than 0,57 trillion rubles. Tomorrow EUR/USD will consolidate in the range of 63,5-64,5,” he said.