Moscow. June 1. INTERFAX.RU — the dollar and the Euro are actively decrease on the Moscow exchange on Monday evening; the ruble steadily strengthened against the currency basket in connection with increasing interest of global investors for risky assets and strengthen the majority of global markets.
the U.S. dollar amounted to RUB 69,39 at 19:00, 75 cents below the closing level of the previous trading session. With the dollar trading below 70 RUB for the first time since March 6. The Euro was worth 77,2 RUB., 72,75 having fallen in price by a penny. The cost of the currency basket ($0.55 and EUR0,45) fell by 73,99 penny — to 72.91 of the ruble.
according to experts “Interfax-CEA”, the active ruble rising against the dollar and the Euro at the evening auction due to improvement of moods of global investors continuing to show interest in risk after the US President Donald trump decided not to break the trade deal with China due situations around Hong Kong. However, according to the President, the United States will deprive Hong Kong’s privileged status because it ceased to be a separate component of the PRC.
markets don’t react to what the Chinese authorities have instructed the state commodity traders Cofco and Sinograin to suspend the procurement of some types of American agricultural products, including soya beans, Bloomberg reported, citing informed sources. According to them, Chinese companies have also canceled a number of orders for the purchase of pork in the United States.
However, the actions of the Chinese authorities show that a bargain, with great difficulty, signed by Washington and Beijing in January 2020, is under threat, experts say. Premier of China Li Keqiang in may stated that China intends to comply with the terms of the agreement, however, the growth of tension in relations between the two countries in recent days could affect the situation.
As told in an interview to “Interfax” analyst asset management UK Promsvyaz of Geldy Soyunov, for the first time since early March, the ruble against the U.S. dollar rose above the mark of 70 rubles.
“the Growth of the Russian currency contributed to several factors. first, the price of Brent crude oil has renewed highs for the last 2.5 months on expectations of a positive outcome of the upcoming meeting of OPEC members, which could take place Thursday. secondly, on the market there is a depreciation of the U.S. dollar relative to major currency pairs. The dollar DXY basket of currencies has fallen to the level of 98.1 points. Further movement of the ruble will affect the publication of statistics in the United States and Russia in the second half of the week. According to our forecasts, in the coming days we will see some continued strengthening of the ruble against the U.S. dollar to the level of 68,7 rubles”, — said Soyunov.
“on Monday the ruble traded in positive territory along with most currencies in emerging markets as the Friday press-conference trump has not raised the issues of the abolition of the trade agreements between the two countries, which is so feared in the markets. As a result, in the beginning of the new week intensified investors ‘ appetite for risk. In addition, appetite in emerging markets was facilitated by the morning data on business activity index in China’s manufacturing sector for may. The index has been above the psychologically important level of 50 points. (.. .) However, while it cannot be excluded that the weakening of the dollar is only a temporary correction. In the near future the markets will again begin to play for concern with the new waves of the pandemic and further the differences between the US and China. Do not add confidence to investors and the unrest in the United States (including that can speed up the spread of infection and slow down the country’s withdrawal from the quarantine). All together can significantly reduce investors ‘appetite for risk on Russian market and return the dollar to a mark of 70+ RUB”, — stressed the head of the analysis of banks and money market IK “Veles Capital” Yuri Kravchenko.
oil Prices reference marks are moved to decrease Monday night. The cost of the August futures for Brent crude on the London ICE Futures exchange to 19:01 Moscow time has fallen on 0,66% — to $37,59 per barrel. Futures for WTI crude oil for July in electronic trading on the new York Mercantile exchange (NYMEX) by this time has fallen in price on 2,31% — to $34,67 per barrel.
Traders are looking at the prospect of holding this week’s meeting of Ministers of OPEC and OPEC+, which was originally scheduled for June 9-10. The conference could be held June 4-5, reported “Interfax” sources in the three delegations.
Participants prefer short-term measures, given the rapid development of the situation. According Kpler, OPEC countries+ completed the deal to 92%.
As earlier reported mass media, Russia will in July begin to decrease the production cuts, agreed with the OPEC countries+ in April for the first two months of the transaction.
“Investors in the ruble segment will largely focus on the situation in the oil. There is a moderate positive — the success of OPEC negotiations regarding the extension of the current reduction of production beyond June will support quotes and increase the potential of strengthening of rouble. Will continue to support the growth and demand from global investors, which remains high due to the expectation of easing monetary conditions” — analysts of Bank “St.-Petersburg”.
At the end of the index session of the Moscow exchange (part of the session dollar calculations “tomorrow” in the period from 10:00 to 11:30), the RF Central Bank lowered the official rate of usAra on June 2 at the 1,0406 ruble to 69,7114 RUB., and reduced the Euro 91,13 pennies to RUB 77,6376
the Weighted average dollar exchange rate calculations “today” at the auction of the Moscow exchange fell on Monday on 92,19 kopeks against Friday and totaled RUB 69,696 average rate of the dollar at the session calculations “tomorrow” to 19:00 decreased by 95,34 kopecks and amounted to RUB 69,6606 trading Volume in dollars this time amounted to $3 billion 158,642 million, of which $751,384 million on transactions with settlements “today” and $2 billion 407,258 million on transactions with calculations “tomorrow.
the Weighted average Euro rate calculations “today” dropped to 96,36 cents, to 77,5502 RUB Weighted average rate of Euro calculations “tomorrow” to 19:00 decreased by 1,0432 rubles and amounted to RUB 77,4892 trading Volume of the Euro by this time amounted to EUR428,439 million, of which EUR192,972 million on transactions with settlements “today” and EUR235,467 million on transactions with calculations “tomorrow”.
Bets on the market short-term interbank loans fell slightly on Monday, while market rates medium-term (3-6 months) IBC has not changed compared to the previous trading day. Rate MosPrime Rate loan “overnight” fell by 2 basis points (b.n.) — to 5.67% per annum, the rate of MosPrime Rate for loans to seven days decreased by 1 b.p. — to 5.73% per annum, the rate for a period of 1 month retreated 2 b.p. — to 5.72% per annum. Rates for periods of 3 and 6 months did not change compared with Friday, having remained at 5.68 per cent and 5.66 per cent per annum.