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The dollar returned under the mark of 74 rubles



On Thursday, December 24, trading in ruble pairs ended in decline. The dollar / ruble pair slipped by 1.58%, to 73.89 rubles, euro / ruble – by 1.52%, to 90.09 rubles, pound / ruble – by 1.24%, to 100.09 rubles .FX marketTrading on the Moscow Exchange opened with a drop in the dollar and euro. At the beginning of the afternoon session, buyers made an attempt to return to the resistance of 76 rubles. amid falling oil prices. At the level of 75.46 rubles. for the dollar, they were rebuffed by sellers. The attempt failed. The ruble strengthened its growth against foreign currencies amid a thin market ahead of the Christmas holidays in Western countries. The news that the UK and the European Union have finished agreeing on the text of an agreement on the future relations of the parties after Brexit brought positive to risky assets. In the evening, Prime Minister Boris Johnson announced that the UK and the EU had entered into an agreement on relations and free trade after Brexit. The head of the European Commission, Ursula von der Leyen, also confirmed the conclusion of the deal, noting that this would avoid the interruption of key ties between the EU and Britain. The ruble received additional support from the tax period and the Central Bank of Turkey. The peak of tax payments (VAT, mineral extraction tax and excise taxes) falls on December 25. The central bank of Turkey on Thursday decided to raise the key interest rate by 200 basis points, to 17% from 15% per annum. The key rate is at the highest level since August 2019. On Friday, December 25, the world’s venues are closed for the occasion of Catholic Christmas. In this regard, the dollar / ruble pair is expected to moderately decline to 73.45 and return to the level of 73.85. Due to the close of trading in oil and the foreign exchange market, the price can stand the whole day at 73.85 rubles. per US dollar. Stock market On the Russian stock market, indices showed multidirectional dynamics amid strengthening of the ruble. The RTS index rose 0.85% to 1378.33 points, while the Moscow Exchange index dropped 0.47% to 3236.88 points. Trading activity on the Russian market will be low today due to the weekend on the western grounds. Crude oil futures and US indices are not traded. The RTS index is expected to decline to 1360 points, according to the Mosbirzh index – to 3215. Oil Market On Friday, December 25, world markets are closed on the occasion of Catholic Christmas. Oil trading will resume on Monday 28 December. Buyers control the market and are determined to move towards the level of $ 55 per barrel of Brent ._________________________ Vladislav Antonov, Analyst, IAC Alpari

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