Скачать или смотреть Russian ruble extends its gains

Today the ruble continues to trend upwards against the greenback. The Russian currency took the leading position among currencies of other developing nations.

A. Davydov comments:


For the last year the ruble posted great result, having gained a status of nearly the best currency, as it appreciated by almost 20 percent. A high yield of public debt securities, gradual improvement of economic conditions in Russia, and recovery in the commodity market contributed to a rise of the ruble exchange rate. Next year, bullish trend is likely to continue. However, the pace of growth will probably slow down as the Federal Reserve plans to increase its key rate significantly, whereas the Bank of Russia is going to lower its interest rate. We expect to see a range of 55-57 rubles per a dollar by the end of the next year.
End of comments
Oil market participants remain optimistic: they are looking forward to when the 1st of January comes not just to celebrate New Year, but to see the long-awaited output cut by the OPEC countries. After the oil-exporting countries had stricken a deal with non-OPEC states to curb production, oil prices skyrocketed to multi-year highs. However, the commodity corrected ahead of the Christmas and New Year holidays, but still it holds the recent gains.
Thus, the Brent crude oil is trading at the level of 55.13 dollars per barrel, while WTI costs 53.16 dollars per barrel. On Friday markets absorbed the Baker Hughes report on the US rig count which posted an increase of drilling activity. However, traders didn’t pay much attention to this news.
Market participants shifted their focus to the US crude inventories report which will help them understand whether the oversupply problem can be solved soon.

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