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Flucation of EUR To RUB and USD To RUB

Flucation of EUR To RUB and USD To RUB? | FXMAG.COM
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The rate of the Russian currency reached 80.40 per dollar and 90.70 per euro yesterday after the close of the regular session. However, from these levels, the ruble seemed attractive for purchases. This brought the price back down from the psychologically significant round marks.

The dollar was temporarily near peak levels, from where it has been unfolding since the end of 2014. Of course, the fact that the ruble previously went up from 80 does not allow one to blindly hope that the same will happen this time.

flucation of eur to rub and usd to rub grafika numer 1flucation of eur to rub and usd to rub grafika numer 1

However, it is a good reason to closely monitor the dynamics of the Russian currency, as well as the rhetoric of officials and the central bank when approaching these levels.

Now it seems that geopolitics is more than embedded in premiums, which reduces the prices of Russian assets, including the ruble.

However, there are other factors playing a part. In recent weeks, there has been increased attention to the Fed, which has entered the warpath against inflation, although for most of the past year, it was simply denied.

flucation of eur to rub and usd to rub grafika numer 2flucation of eur to rub and usd to rub grafika numer 2

If the tough tone of the American regulator causes pressure on the markets, this will be a new reason for the ruble to fall, even if not as sharp as under the influence of geopolitics.

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The best tactic for investors now is to watch the dynamics of the Russian currency near significant round levels.

A sharp turn down in the EURRUB and USDRUB pairs will indicate strong purchases and will be another confirmation of how unbreakable these levels are.

If we see a further slide of the ruble, we can say that the lowest point for it has not yet been reached. In general, it is worth being aware that the bottom may come very soon.

flucation of eur to rub and usd to rub grafika numer 3flucation of eur to rub and usd to rub grafika numer 3


Alex Kuptsikevich

Alex Kuptsikevich

Financial market professional with 16-years' experience and Senior financial analyst at FxPro. Author of daily reviews on the impact of economic events with comments regularly featured in top international and Russian media. Covers fundamental analysis, global markets, foreign exchange market, gold, oil, cryptocurrencies.

Alex Kuptsikevich is a regular contributor to both digital and print media including CNBC, Forbes, Reuters, MarketWatch, BBC and Coindesk.


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