The dollar and Euro fell slightly in early trading Friday

The dollar and Euro fell slightly in early trading Friday


Moscow. January 6. The U.S. dollar and the Euro slightly reduced by “Moscow exchange” in early trading Friday, the ruble strengthened slightly against the currency basket against the background of relatively high world oil prices.

The first transactions in U.S. dollar were held at the “Moscow stock exchange” in the range 59,25-59,37 rubles/$1, in the first minutes of trading course made up of 59.30 RUB/$1 (-15 cents to the previous closing). The Euro fell to 62,75 rubles/EUR1 (-19 cents), the cost of the currency basket has lost 17 kopecks against the closing level on Thursday, reaching 60,85 of the ruble.

The dollar has been on 1,357 rubles below the current official exchange rate of the Euro by 1.06 rubles below the official rate.

According to experts of “Interfax-CEA”, the rising exchange rate of the ruble against the dollar and the Euro in early trading on 6 January is associated with stably high world oil prices, despite their slight decline in the morning after rising on the eve of the data about reduction of stocks in the United States, as well as information on production cuts by Saudi Arabia.

The cost of the March futures for Brent crude on London exchange ICE Futures at 10:02 MSK fell by only 0.28 percent to $56,73 per barrel. By the close of market on Thursday futures rose in price on 0,76% – to $56,89 per barrel. Futures price for WTI crude oil for February in electronic trading on the new York Mercantile exchange (NYMEX) decreased by this time by 0.26% to $53,62 the barrel. The contract has risen in price on 0,94% – to $53,76 per barrel at the end of the previous session.

Data of U.S. Department of energy, published yesterday, pointed to the reduction of oil reserves last week by 7.1 million barrels. Experts interviewed by the WSJ, the average predicted reduction of production by only 2 million barrels. Gasoline inventories increased for the week by 8.3 million barrels, distillates – by 10.1 million barrels.

Saudi Arabia has reduced oil production by no less than 486 thousand barrels per day (b/d) Oct 2016, reported the newspaper The Wall Street Journal informed source. Thus, Saudi Arabia has implemented a plan to reduce production in full and, perhaps even more, the source said. According to him, oil production in Saudi Arabia decreased approximately 10,058 million b/d, which corresponds to the level agreed upon within OPEC.

Source