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The ruble is in a weak position on Friday

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The ruble is in a weak position on Friday

The ruble is in a weak position on Friday
September 30
16:00 2016

The Russian currency is fallings in price on the session on Friday in conditions of the factors absence that could stimulate the growth of the ruble. The enthusiasm caused by the outcome of the OPEC agreements has come to naught, limiting the possibility of increasing oil futures contracts.

To the beginning of the day the US dollar has increased by 0.54 percent against the Russian ruble, being traded at 63.43 rubles. The euro has amounted to 70.94 rubles. This is 0.16 percent higher than the closing of the previous session.

On Friday morning Brent crude oil has fallen by 1.32 percent. It is being traded at $ 48.59 per barrel and creates a restriction for the increase of the currency pair dollar-ruble higher than 63 rubles. A barrel cost $ 49.24 at the close of trading on Thursday; and the pair ruble-dollar has grown in price to 62.9 rubles at the start of the evening trade.

After that the risk sentiment on the world markets began to weaken due to increasing fears that the situation around the largest German bank – Deutsche Bank will not be the best. The situation is due to the fact that the bank is required to pay compensation in the amount of $ 14 billion. (There are a lot of claims to the bank as a result of the investigation of operations related to mortgage securities).

Anastasia Sosnova, the bank expert at Russian capital, said: “The investment environment are seriously worried that Deutsche Bank will repeat the fate of Lehman Brothers if the German government does not offer the financial assistance to the organization.”

On Thursday the German government denied that the country’s leadership was preparing a plan to rescue the bank.

We are expecting the release of statistical data on income and expenditure of households in the United States for the last month as well as Chicago business activity index, FRB and a consumer sentiment index, University of Michigan. Also, the statistics on the number of active rigs in the United States is going to be published. All these data will make the market volatility more intense.

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