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At the start of the Tuesday’s session the ruble has insignificantly fallen against the dollar and euro

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At the start of the Tuesday’s session the ruble has insignificantly fallen against the dollar and euro

At the start of the Tuesday’s session the ruble has insignificantly fallen against the dollar and euro
September 20
10:30 2016

On September 20 the Russian currency has insignificantly fallen against the dollar and euro at the start of the trading session on the Moscow Stock Exchange. This has happened because the oil quotes that have slightly decreased as well as due to the fact that market participants have taken a wait.

The trading session on the US dollar has started with the transactions within 64,63-64,72 rubles /$ 1. The rate has become equal to 64.68 rubles /$ 1 for the first two minutes. At the same time the euro has become 72.41 rubles / EUR1. The currency basket has increased by 7.5 kopecks and became equal to 68.16 rubles.

Herewith, the US currency has become 24 kopecks lower than the level of the current official rate. The euro has become 4 kopecks below the official rate.

According to analysts from the “Interfax-CEA”, the insignificant fall of the ruble against the dollar and euro is due to the oil prices, which are falling on Tuesday morning. This is happening because of the data that the surplus of oil on the global market is high. On the London Stock Exchange the price of futures contracts for Brent crude oil for November has amounted to $ 45.77 per barrel.

The fall of oil prices can motivate the strengthening of the US dollar to 65 rubles, says Anastasia Sosnova from the Russian Capital Bank.

According to the forecast of the analyst Alexei Antonov at “ Alor Broker”, the increase of the US dollar and  euro has the following perspective: on Tuesday they are expecting the currency growth  to 65 rubles and 72.5 rubles respectively.

“In the middle of the day the statistics on the number of the issued building permits in the US will be released, but it is unlikely that it will seriously affect the market.  Investors are waiting for tomorrow’s data on crude oil stocks and the US Fed decision on the interest rate.”

The market is waiting for the outcome of the meeting of the Federal Reserve System, which is scheduled for September 20-21. Most of the experts think that the leaderships of the Central Bank of the United States will not raise the base interest rate as recent statistics was rather weak. Traders consider that the probability of the rate increase at the September meeting is 20%. Traders estimate the chance that the rate will be increased in December at 56%.

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