Rouble in the beginning of the day will remain under pressure from weak oil

Rouble in the beginning of the day will remain under pressure from weak oil


The stock market Tuesday morning little changed, experts predict. On the Russian currency is influenced by the drop in oil prices – Brent has closely approached to psychologically important level of 40 dollars per barrel.

MOSCOW, 8 Dec. Dmitry Mayorov. The share market of the Russian Federation has a little changed and the ruble will continue to decline under pressure due to weak dynamics of the oil market.

The price of Brent has closely approached to psychologically important level of 40 dollars per barrel, which was not mentioned since the beginning of 2009, experts say.

Forecasts

Expected commencement of trading with a negligible deviation on the MICEX index, around 1740, the closest to be the 1720 and 1730, and the resistance will make a mark 1750 and 1765 by MICEX, rate Vitaly Manzhos from the Bank “Education”.

“After the neutral start of trading, the MICEX index will move in consolidation mode near the opening level. This contributes extremely ambiguous external background. Futures on Brent crude oil continues to trade near its multi — year minimum,” Manzhos said.

The CBR monitors Russian currency through the reduction of ruble liquidity, but it is unlikely he will provide essential support with a further reduction in oil prices, says Vladislav Antonov from the company “Alpari”.

“We still forecast a growth rate of the US dollar against the ruble until the tax period with the decline in oil prices and strengthening of the American currency on the Forex market before the fed meeting on December 16. The nearest target for the USD until the end of the week – 71,64 ruble (highest since the end of August). Euro after rising above of 75.50 ruble will move to 77,30 level of the ruble” — said he.

External factors

U.S. stocks declined 0.7% -0.8% against the background of falling oil prices to the lowest in almost seven years.

At the meeting on Friday in Vienna, OPEC once again retained the quota for oil production at 30 million barrels per day, despite the low prices and the overabundance of raw materials on the market. Thus the organization decided to keep and the level of actual production that exceeds the quota by 1.5 million barrels. The cost of the January futures for North sea petroleum mix of mark Brent fell below $ 41 a barrel for the first time since the beginning of 2009.

Stock futures U.S. morning was down 0.4%. Asia stocks decreased by 0.9 to 1.5%, Shanghai by 1.5%, Japanese by 1%.

The price of oil hovers around 40.9 per dollar per barrel mark Brent. The Euro is 1,0855 1,0845 of the dollar against the dollar at the previous auction.

The results of the previous auctions on the Russian market

The Russian stock market on Monday fell by major indices on the background of a weakening ruble and falling to multi-year lows oil prices.

The MICEX index to closing has decreased on 0,8% — to 1741,14 points, RTS index — on 2,26% — to 793,36 item. The RTS index for the first time since 5 October, dropped below the psychologically important level of 800 points.

The dollar calculations “tomorrow” on the basis of currency trading Monday rose by 1.36 ruble — to 69,50 of the ruble, the Euro by 1.31 ruble — to 75,37 ruble, follows from the data of the Moscow exchange.

The value of the currency basket (0.55 dollars and 0.45 euros) rose by 1.34 ruble compared to the previous closing and amounted 72,14 ruble.