Ruble continues to retreat
28.05.2014
The Russian ruble depreciates for the second consecutive day in its pairs with the dollar and the euro, "dumping" the overbought excess.
The positions of the Russian ruble are weakened for a second day in a row. Here, apparently, is the effect of overbuying, built up during May this year. At the moment the U.S. dollar yields 34.51 rubles (+0.32%), the euro - 46.96 rubles (+0.11%).
Interestingly, the ruble is adjusted amid rising oil prices - the "black gold" feels healthy.
Overall, the situation with the ruble is now quite stable - for the first time in a while. It is important to understand that the policy of the Central Bank of the Russian Federation has not changed with respect to the national currency. The regulator needs a weak currency and the policy of "free floating" by 2015 remains in force. All else included nobody cancelled the budget deficits.
For now we can say that the RUB will be correcting until the end of this week, and then stabilize at around 34.70 per USD and 47.25 rubles per EUR.
RoboForex Analytical Department
The positions of the Russian ruble are weakened for a second day in a row. Here, apparently, is the effect of overbuying, built up during May this year. At the moment the U.S. dollar yields 34.51 rubles (+0.32%), the euro - 46.96 rubles (+0.11%).
Interestingly, the ruble is adjusted amid rising oil prices - the "black gold" feels healthy.
Overall, the situation with the ruble is now quite stable - for the first time in a while. It is important to understand that the policy of the Central Bank of the Russian Federation has not changed with respect to the national currency. The regulator needs a weak currency and the policy of "free floating" by 2015 remains in force. All else included nobody cancelled the budget deficits.
For now we can say that the RUB will be correcting until the end of this week, and then stabilize at around 34.70 per USD and 47.25 rubles per EUR.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.