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On Wednesday the ruble has fallen to its minimum for 3 weeks, yet it has been in the black

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On Wednesday the ruble has fallen to its minimum for 3 weeks, yet it has been in the black

On Wednesday the ruble has fallen to its minimum for 3 weeks, yet it has been in the black
August 31
10:30 2016

Despite the fact that due to the impact of the movement of oil and financial markets, the Russian currency has reached the minimum point for three weeks. The ruble is being traded with not strong changes at the start of the session on Wednesday.

In addition to world oil prices and the dollar, Russian cash flows of the last day of August can affect the ruble exchange rate if the exporters’ activity decreases after taxes payment.

The market still remains not very active, waiting for reports on the US employment statistics. These data will serve in many ways as a starting point for the Fed to decide on the rates at the meeting on 20-21 September.

At the beginning of the session the currency pair dollar / ruble with calculations “tomorrow” has amounted to 65.42 for the first time since August 8. But soon the prices were equal to 65.26 – by 1 kopeck higher than at the end of the trading on Tuesday.

The euro with calculations “tomorrow” was near the mark of 72.70 rubles. It is 3 kopecks below the previous trade closing.

The cost of Brent crude oil is now around $ 48.12 per barrel. This is half a percent below the finishing of the session on Tuesday, on the results of which it has lost 1.8 percent.  The actual value of the Brent price has become a minimum for 2 weeks.

The data from the American Petroleum Institute (API) on the growth of raw material stocks in the US and the high price of the dollar have the negative impact on oil. The publication of the report on oil stocks from the Energy Information Administration is expected today at 17.30.

At the beginning of the day the US currency has reached its maximum at the financial markets for three weeks – 96.16, and it keeps a positive trend. The US dollar is supported by expectations that the Fed will raise the rate before the end of 2016.

The currency pair EUR / USD is trading around $ 1.1140, near the closing levels of the session on Tuesday. At the beginning of the session on Wednesday the euro has reached its two and a half -week minimum – $ 1.1128.

The ruble against the dollar continues to have a positive trend since the beginning of August – more than 1 percent. 2006 was the year when the ruble growth against the dollar was recorded for the last time.

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