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The ruble is growing up because of the dollar cheapening and the oil that has grown in price

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The ruble is growing up because of the dollar cheapening and the oil that has grown in price

The ruble is growing up because of the dollar cheapening and the oil that has grown in price
September 07
14:30 2016

The ruble has slightly increased at the beginning of Wednesday. It is a reaction for the oil growth. The growth is observed because the US dollar has become cheaper against the analogue currencies. The dollar has gone down in value because of the weakened expectations of the rate increase by the Fed at the meeting on 20-21 September.

At the beginning of the day the currency pair dollar / ruble calculations “tomorrow” is being traded at around 64.38 at the Moscow stock exchange. It is 0.3 percent lower than the level of the previous session closing on Tuesday.

The euro calculations “ tomorrow” costs  72.40 rubles. It is 1/3 percent lower than the finish indicator of the previous session.

Now Brent crude oil is amounted to $ 47.78 per barrel. This is 1.1 percent more than the indicator of the session closing on Tuesday.

Today the market has focused its attention on the information about the oil reserves in the United States. The information was released a day later due to the public holiday in the US on Monday.

In the financial markets the US dollar shows minimal changes against the basket of 6 currencies after the earlier collapse by more than 1 percent. The dollar is losing 0.4 percent against the yen.

EUR / USD quotes are being traded at around $ 1.1145. The dollar tries to grow after the yesterday’s collapse, which amounted to nearly 1 percent on the rather weak data regarding the US service sector. The data have reduced the probability of the rate increase by the Federal Reserve in September.

Due to the expectations for the conservation of the cheap dollar funding a number of currencies of the EM segment have updated local highs in recent days.

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