The ruble is still adjusting to the new sanctions restrictions, so relative stability is likely to continue from July 15 to 19, with internal factors contributing to this.
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BitRiver analyst Antonov revealed how the ruble is slipping away from US control
BitRiver financial analyst Vladislav Antonov even said that what is happening in the United States is rapidly losing importance, Prime Publication writes.
The expert says that the key factors influencing the dynamics of the ruble are still oil prices, sales of foreign currency by exporters, high exchange rate and low demand for foreign currency by importers.
After the introduction of restrictions on the foreign exchange market, many things have changed significantly. The yuan has become the dominant currency and accounts for 99.6% of all foreign exchange transactions. Stock market trading volumes fell by about a third.
“In the coming week, from July 15 to 19, the ruble is expected to continue to consolidate with a tendency towards slight weakening. The trading range of 86.50-90.00 rubles per dollar is expected to remain. The euro is expected to remain in the range of 93.45-97.50 rubles, and the yuan – in the range of 11.50-12.40 rubles,” Antonov said.
As for Brent oil, there is a chance of growth to $90 per barrel. He rates the speech of the US Federal Reserve Chairman Jerome Powell on Monday, the publication of US industrial production data for June on Wednesday, as well as a message from FOMC members on Friday as important events of the coming week. Only if all this affects the ruble, it will be insignificant, all due to the current sanctions.
We previously wrote that Sovcombank’s chief analyst Mikhail Vasiliev predicted the ruble would fall in July.
Author:
Nikolai Tikhonov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
