Ruble in the evening corrected upwards for the second consecutive day

Ruble in the evening corrected upwards for the second consecutive day


The dollar calculations “tomorrow” to 20.10 Moscow time has decreased on 0,31 ruble – to 76,37 of the ruble, the Euro – 0.48 ruble – to 82,92 ruble, follows from the data of the Moscow exchange.

MOSCOW, 14 Jan. Dmitry Mayorov. The ruble against the dollar and Euro on Thursday evening corrected upwards for the second consecutive day on trying oil prices to hold above $ 30 per barrel of Brent.

The approach of the tax period in Russia had supported the rouble exchange rate against major reserve currencies.

The dollar calculations “tomorrow” to 20.10 Moscow time has decreased on 0,31 ruble — to 76,37 of the ruble, the Euro — 0.48 ruble — to 82,92 ruble, follows from the data of the Moscow exchange.

The oil leaves hope

The ruble against the dollar during the session on Thursday fluctuated mostly above the previous close. The value of the Euro when it showed multidirectional dynamics on the background of the more volatile dynamics of European currencies against the us Forex.

The principal point of reference remained the dynamics of the oil market. In the evening on Wednesday the price of Brent crude oil dipped briefly below the psychologically significant level of 30 dollars per barrel.

Players in the oil market fear rising imbalance due to the excess of supply over demand. A nervous reaction by breaking out of an oil price of 30 dollars was caused by data the Ministry of energy of the USA about growth of commercial stocks of oil in the United States (excluding strategic reserves) for the week ended 8 January, by 0.2 million barrels to fixing 482.6 mm million barrels. Also increased stocks of gasoline and distillates.

However, while oil held above the key level of $ 30, which gave hope for further strengthening ruble.

Additional support for the currency of the Russian Federation have become the approximation of the January tax period in Russia, when traditionally increases the demand for dollars, dealers said.

As a result, the dollar and the Euro traded in the evening with a reduction in the range of 0.5 ruble, and the price of the gas fluctuated below 2.4 thousand rubles.

Forecasts and recommendations

Game speculators (in the last days — in the fall) in anticipation of the expiration of oil contracts finished near tomorrow will be the March futures, experts say.

It seems that the oil price stayed above $ 30 and up will not keep you waiting, says Alexey Mikheyev from the Bank “VTB 24”.

“Accordingly, we expect to see the start of growth of the ruble”, — he added.

In General, the pair dollar/ruble is still quite contradictory, says Ivan Kopeikin from “BCS Express”.

“So hurry with the active sales of this tool is not worth it, especially given that the medium and short term trends are still looking up”, he added.