High oil prices keep the ruble rate around 62

High oil prices keep the ruble rate around 62

Moscow , May 17, 2018 , 07:17 – REGNUM Trades on the Moscow stock exchange opened May 16 growth in ruble pairs against the background of a decline in oil prices. In addition to oil, one failed auction of the RF Ministry of Finance had a negative impact on the ruble, REGNUM Alpari analyst Vladislav Antonov . The Office placed OFZs out of 30 billion rubles to 21.45 billion rubles. The dollar at the beginning of the session rose to 62.65 rubles., The euro rate – up to 73.96 rubles. The ruble felt fine in relation to the single currency against the background of its weakening to all major currencies. Negative for the euro was the political crisis in Italy and the strengthening of the US dollar. Demand for the ruble returned with the growth in oil prices after the publication of the report of the US Energy Ministry on the reduction of reserves in the country by 1.404 million barrels. Increased oil production market ignored. The price for Brent to the close of trading recovered to $ 79.39. The dollar rate fell to 61.61 rubles, the euro rate to 72.64 rubles. High oil prices, the approaching tax period will continue to support the Russian currency in the coming days. US President Donald Trump instructed Secretary of State Michael Pompeo to prepare a plan to introduce additional measures against Russia because of alleged violations of the Treaty on the Elimination of Intermediate-Range and Shorter-Range Missiles. Due to high oil prices, negative factors for the ruble are ignored. As the rise in oil prices is triggered by geopolitics, for buyers of oil and ruble futures, a downward correction will be painful. In the current situation, there is nothing left to do but consider consolidating the dollar / ruble pair between 61.40 and 62.80 rubles. The euro exchange rate has reached a significant support of 72.65, from which the price can be adjusted to 73.65 rubles. For a more rapid recovery to the level of 76.10 rubles, you need a positive news background from Italy and a price increase above the level of 74.50. Recall, on May 16, following the results of the trading session on the Moscow Stock Exchange, the rate of the US dollar by calculations “tomorrow” fell by 58 kopecks. (-0.94%), to 61.73 rubles., The euro was down 87 cents. (-1.18%), to 73.76 rubles. Trading volume in the dollar / ruble pair was $ 5.5 billion (+ 103.70%), euro / ruble – 412.4 million euros (+ 74.37%). Read also: The situation for the ruble is not very important

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