ING: On the ruble affects an approximation of the tax period
Having lost to the dollar about 0.7% on yesterday’s close, the ruble became an outsider among the major EMEA currencies. But amid the drop in oil prices to $ 61-62 / bbl to yesterday’s lows of $ 58 / bbl this loss seem insignificant. As a result, the main pressure in oil prices was broadcast predominantly in a lower ruble price of raw materials. Support to the ruble had massive sales from exporters, who confidently closed the continued demand for the currency. Probably affects the approach of the tax period, according to the chief economist at ING in Russia and CIS Dmitry Polevoy. We also note that the options market in recent days resumed decline in implied volatility (from 35-40% to 29-33% for a period of 1 to 12 months.), Suggesting further stabilization of expectations in the ruble. Such dynamics improves the attractiveness "hedge" risks in the ruble. Central Bank will hold two auctions of foreign currency loans secured by rights claims in dollars for a period of 28 and 365 days, with a limit of $ 4 billion., And $ 1 billion. And min. rates ranging from 0.9235% to 1.4209%. Judging by the dynamics of the spread between the interest rate securities and swaps, which yesterday remained in the red, short-term shortage of dollar liquidity in the market is not observed.
The ruble collapse , if the central bank will continue to lower interest rates Russian the national currency may have to collapse next week, writes…
Currency market . The ruble will reach 60.60 Ruble continues to incur losses against the dollar, in the moment of touching the mark of 60.12. And even…
Strong US data support the dollar Because of the weekend in the United States on Monday, trading on global markets were calm. Asian investors were…
- Gold fell strongly in anticipation of Greek agreement
- USDJPY overall analysis
- January inflation in Russia sharing it with new