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The ruble is waiting for the report on the US labor market

The ruble has been growing for almost the entire week: from May 4 to May 7, since the beginning of the opening of foreign exchange trading on the Moscow Exchange, it has risen in price by 1.2 rubles against the US dollar. However, now the rate of the Russian ruble is somewhat volatile and is traded in the corridor of 74.1 – 74.3 rubles per dollar. Meanwhile, Brent oil, which peaked at 69.8 dollars per barrel this week, began to decline amid conflicting news about energy reserves. On the one hand, the raging coronavirus in India significantly reduces domestic demand for raw materials. On the other hand, many experts have high hopes for the summer season in the United States and predict a 30% increase in demand for jet fuel compared to the first quarter of this year. Still, oil support next week may be provided by the weakening dollar and the recovery of the economies of the United States, the Eurozone and China. Forecasted exchange rate for the next week: dollar – 74-75 rubles / dollar, euro – 90-91 rubles / euro .______________ Vladimir Zotov, Chief Operating Officer of the Treasury, Ural Bank for Reconstruction and Development (UBRD):

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