Ruble wins back reduction

the Russian national currency in the first hour of today’s trading on the Moscow exchange strengthened. So, as of 10:33 GMT, the dollar calculations “tomorrow” has lost almost 14 kopecks to the previous closing and amounted to 70,97 RUB the Euro has decreased by 16 kopecks and was on a mark of 80.43 RUB according to the exchange.

As noted by the IAC analyst “Alpari” Vladislav Antonov, the ruble has the opportunity to regain positions. So, yesterday, July 8, at the end of trading, the Russian currency rose against the dollar and Euro fell slightly against the British. The dollar in turn fell against most currencies. The pair dollar/ruble dropped 0.51% to 71,11, the Euro/ruble 0.05% to of 80.59 RUB GBP/RUB rose by 0.16%, to RUB 89,80

Investors again turned their attention to riskier assets amid hopes of recovery in the world economy and progress in the development of vaccines. Actively, the dollar began to decline after the Minister of Finance of great Britain Rishi Sunak has announced new measures to support the economy. The yen, the dollar was stable.

Brent crude has risen by about 1%, which also supported the Russian currency. Investors ignored the increase in crude oil inventories of 5.6 million barrels. They focused on the fact that the volume of oil production in 2020 and 2021 will be compared to the previous year (12.2 million b/d) are lower by 600 thousand barrels a day and global oil demand could grow by 190 thousand barrels per day. This was reported by the energy information Administration US (EIA).

the Expert notes that additional support for the ruble received from the Ministry of Finance of the Russian Federation. On Wednesday, the Ministry held an auction of Federal loan bonds with variable coupon which attracted the interest of investors. Demand for the bonds amounted to 264,84 billion rubles, proceeds from sales of 64.3 billion rubles.

Thursday 9 July in the Asian session, Brent oil costs $43,20 per barrel. Buyers hold the position and still expect to break through to the level of $45. Dollar is trading on the downside to all major currencies. Futures SP500 increases. Today the ruble will be comfortable with this external background. If buyers work with the opening 71 pass RUB, the pair dollar/ruble will return to around 70 and 56 rubles, the analyst believes.

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