The dollar against the ruble at the opening of trading on the Moscow exchange on Wednesday, November 9, rose by 0,34 RUB, RUB to 64.07 per dollar, on news that the Republican candidate Donald trump is ahead of her rival Democrat Hillary Clinton in several key States during the counting of votes on elections of the President of the United States, according to the auction.
The RTS and MWB decreased by 1.31 and 0.9% to 959,93 and 1950,16 points respectively.
The reaction of the Russian financial market to news about the leadership of Donald trump will be stronger than the results of the June referendum on the British exit from the European Union, says head of analytical Department of Bank “Zenith” Vladimir Evstifeev. According to him, on Wednesday, the ruble against the dollar on the Moscow stock exchange can fall to 67 rubles. “But with the constant inflow of excess liquidity in the Russian market for a long time will not fall, a maximum of two weeks”, — the expert believes. After the initial negative reaction the rate may again return to the corridor 64 and 65 rubles per dollar, he adds.
Wednesday on the background of the leadership trump all global indices showed a decline. Exchange Japan closed trades in the fall, the Nikkei 225 index fell by 5.4%. Futures on major US stocks declined in the range of 3-4%.
News of the possible winning trump in the election, reacted negatively and the oil market. The price of January futures of Brent crude on Wednesday fell by more than 3%, to $44,41 per barrel, follows from data exchange ICE. This figure is the lowest since August 11.
As previously mentioned , analysts believe that whatever the result of the elections in the USA the exchange rate will be aimed at easing before year-end. Economists expect that December Federal reserve (fed) will raise interest rates, which will increase the value of the dollar against the currencies of developing countries. In addition, at the end of the year will rise the demand for foreign currency from-for growth of payments on external debts, allow them.
“Growing concerns about a positive outcome of the OPEC meeting on November 30. If oil producing countries do not agree on it to freeze or restrictions on the extraction of raw materials and oil will remain below $50 per barrel by the end of the year, the ruble may drop to 67 to 69 rubles per dollar”, — told the Manager of research and Analytics PSB Alexander Polyutov.
Read more about counting of votes on presidential elections in the United States, read the online broadcast.