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The ruble and oil are falling

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The ruble and oil are falling

The ruble and oil are falling
September 13
12:30 2016

On Monday oil grew by almost 1% and on Tuesday the commodity prices have fallen in anticipation of the information about the state of reserves of raw materials in the US market. The level of reserve stocks is likely to demonstrate the significant growth.

To the beginning of the day futures contracts for Brent crude oil for November have fallen in price by 0.7% , amounting to $ 48.00 per barrel on the London Stock Exchange.

By this time the cost of the October contract for WTI crude oil has decreased by 0.8% and reached $ 45.91 per barrel on electronic trading on the New York Mercantile Exchange.

The data that reflect the steady state of the Chinese economy can support the market. The Chinese industrial production was increased by 6.3% last month. This is a little higher than earlier expected forecasts. The oil production has fallen to its lowest point since the end of 2009.

On Tuesday the Russian currency has fallen at the start of the session following the oil fall.

The US market’s attention has been focused not only on the US oil reserves data but on the upcoming decision of the Bank of Russia and the US Fed regarding the rates.

To the beginning of the day the currency pair dollar / ruble calculations “tomorrow” is being traded at around 64.85 on the Moscow stock exchange. This is 0.4 percent higher than the yesterday’s closing indicators.

By the same time the euro calculations “tomorrow” has been near the indicator of 72.78 rubles. It is 0.3 percent above the level of the previous closing.

Currently Brent oil costs about $ 47.60 per barrel.

At the beginning of the day the US dollar has shown a slight positive trend (the growth is 0.1 percent) against the other major currencies. The dollar is showing a more significant increase against some commodity and developing currencies.

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