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The ruble is trying to strengthen below 77 after a strong dip



On Wednesday, April 7, trading on the domestic foreign exchange market ended with the ruble strengthening. The dollar / ruble pair decreased by 0.37%, to 76.98 rubles, euro / ruble – by 0.37%, to 91.39 rubles, pound / ruble – by 0.90%, to 105.80 rubles … At the beginning of the afternoon session, the ruble hit multi-month lows against foreign currencies. Its weakening was caused by the escalation of the conflict in eastern Ukraine and the verification of the combat readiness of the RF Ministry of Defense. The dollar rate rose to 78.05 rubles. The excitement around this situation is created by the foreign press. Exercises in Russia are held annually. As part of the exercises, military equipment is moved to the required regions to complete training tasks. There should be no panic. Statements by the Secretary of the Security Council of the Russian Federation Nikolai Patrushev eased tensions in the market. He said that Russia does not plan to intervene in the conflict in Ukraine, but is monitoring the situation. The dollar exchange rate fell from the maximum reached 78.05 rubles. up to RUB 76.96 On Thursday, April 8, at the Asian auction, oil costs $ 63 per barrel. The US dollar is correcting. Trading on the Moscow Exchange opened with a decline in ruble pairs. The dollar / ruble slipped by 0.19% to 76.83 rubles. Sellers were able to block buyers for a while. In order to remove the nervousness of market participants in the market, the price needs to gain a foothold below the level of 76.60 rubles. for the dollar. In this case, the market will continue to consolidate in anticipation of the tax period for the first quarter. Nikolay Patrushev also said that specific measures will be taken depending on the development of the situation in Donbass. If the situation worsens, the sale of the ruble will resume with renewed vigor. Stock Market Russian stock indices closed in positive territory on the background of the strengthening of the ruble. As a result of trading, the Moscow Exchange index recovered by 0.18%, to 3500.34 points (+ 0.18%), the RTS index – by 0.19%, to 1429.51 points. The pressure on the ruble eased slightly. Futures on the Moscow Exchange and RTS indices rose. Futures on the S & P500 index renew the historical maximum, rising to 4089 points. Our indices will also then make up for the lost movement due to sanctions risks and the escalation of the conflict between Russia and Ukraine. The Moscow Exchange index is expected to recover to 3525 points, the RTS index – 1445 points .________________ Vladislav Antonov, Analyst, IAC Alpari

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