Stock market quotes, forex, financial news, forex tools –

Financial market news: ruble, lira and oil

 Breaking News
Financial market news: ruble, lira and oil
August 14
09:00 2018

This morning started with the ruble growth after yesterday’s fall on the Moscow Stock Exchange. The world community expectations for resolving the financial crisis in Turkey and, as a result, the future recovery of the world capital markets caused this growth.

After the first minutes of today’s trading, the US dollar showed a significant decline regarding the ruble to the value of 66.94 rubles / 1 US dollar (this is 0.85 rubles less than the level of yesterday’s bidding close). The European currency has fallen to 76.48 rubles / 1 Euro (by 0.84 rubles less than the level of the previous close).

The world financial community is monitoring not only the extremely volatile ruble, but also the behavior of the Turkish lira. We recall that the situation with a pastor Andrew Brunson provoked a conflict between the US and Turkey, which caused a dramatic fall in the rate of the Turkish lira. Today, however, the rate of the national currency of Turkey has shown a reversal contrary to the public statement of Donald Trump’s national security adviser John Bolton. Mr. Bolton said that the US had “nothing to discuss” with Turkey until Pastor Branson was released. Today, the US dollar is estimated at 6.56 lira (at the close of the previous session this value was 6.88 lira). Yesterday, lira fell by 7% of the cost and last week the fall was 20%.

Yesterday, the weakening demand for high-risk assets caused a drop in oil prices, today the energy market has started to recoup. At the moment, October futures for Brent have risen by 0.51% to $ 72.98 per barrel. The price of the September futures contract for WTI crude oil (traded on the New York Mercantile Exchange NYMEX) has grown by 0.64% to $ 67.63 per barrel.

Information about the reduction in oil reserves in the United States became the reason for the growth too. The market fears of the reduction in supplies of Iranian oil also caused the increase in quotations. American anti-Iran sanctions should begin to operate in early November.


The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment