The ruble corrected upwards after oil, has risen in price to $39

The ruble corrected upwards after oil, has risen in price to $39


The dollar calculations “tomorrow” to 19.47 Moscow time has decreased on 0,60 ruble – to 69,95 of the rouble, the Euro rate – on 1,11 ruble – to 76,45 ruble, follows from the data of the Moscow exchange.

MOSCOW, Dec 15. Dmitry Mayorov. The ruble against the dollar and Euro in the evening significantly corrected upwards on the background of rising in the area 39 USD per barrel of Brent crude oil.

The dollar and the Euro have returned to levels 70 and 76.5 rubles, respectively.

The dollar calculations “tomorrow” to 19.47 Moscow time has decreased on 0,60 ruble — to 69,95 of the rouble, the Euro rate — on 1,11 ruble — to 76,45 ruble, follows from the data of the Moscow exchange.

Correction

The ruble against the dollar and the Euro during trading on Tuesday mainly increased within the correction after a notable decline in the previous days and lows with the end of the summer against the major reserve currencies.

The reason for the rebound was a positive dynamics of the oil market, ottolknuvshis up from the lows of late 2008. The bear market of oil has failed to break this support, although we came close to it.

Apparently, the main factor of the previous game to the lowering of the energy market have become expectations of a rate hike by the fed, which may become known tomorrow night.

Market participants do not have to wait for the event itself and began to fix profit on short positions in oil, occupy it at very attractive levels, say experts.

As a result, the ruble began to depart a bit up from the minimum (against the dollar) in 2015, levels.

The price of oil in rubles has risen to the area of 2,7 thousand rubles, which is still too low (if we talk about the budget of the Russian Federation) the price of Brent crude oil.

Forecasts and recommendations

Tuesday started the next tax period, but the decline of the American currency was caused not so much by this event, many a small upward correction in oil prices, says Yuri Kravchenko from IK “Veles Capital”.

“In the coming days, the dollar is likely to continue to be on duty near 70 rubles, as investors will take a wait and see attitude ahead of the fed meeting and press conference of the Russian President (17 December)”, he added.

A certain negative factor for the ruble remain large payments on external borrowings of Russian companies in December, says Ivan Kopeikin from “BCS Express”.

“The overall picture is rather contradictory, and very much depends on the fed’s decision on rate and subsequent comments of the head of the regulator. Minimum rise and soft rhetoric, for example, can provide substantial support for such higher — risk currencies like the ruble,” he added.