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The past week the ruble made sure to strengthen positions against the leading world currencies. According to the results of Friday’s trading the dollar on the Moscow stock exchange down to the level of 68,56 RUB/$, which is 1.65 rubles following the closing of the previous week. Support to rouble render the fixing of oil prices above $40 per barrel, and the overall strengthening of the currencies of developing countries.

* The consensus forecast was calculated as the arithmetic mean of the forecasts analyticities investors was backed up by actions Arboride that next week the ruble would be formed in the range of 67.5?70 RUB./$. In that case, this weekend if the oil exporters will be able to reach a compromise in regard to the transaction of OPEC+ oil will have additional, although temporary, support. Also in favor of the ruble will perform the General market sentiment, which can move in the direction of optimism. The optimism of investors this week were backed by the actions of the ECB, which expanded the asset purchase program to €600 billion, thereby exceeding market expectations (€500 billion). Moreover, next week the debt market can also increase the price rise. According to our estimates, during a Friday conference of the Central Bank confirmed the signals that the probability of reduction of the key rate 19 June 100 b. p. is at a high level.Will gradually go away factor to support the ruble in the form of sales of foreign currency in the framework of the budget pravila the end of the week, the ruble remains near local highs due to global positivity. Rising yields of long bonds and reduced the dollar index, providing a strong bullish trend for the commodity market. The pause in the increase in OFZ associated with the overbought papers ahead of the meeting of the Central Bank, reduced the demand for the ruble. In addition, will gradually go away factor to support the ruble in the form of sales of foreign currency in terms of the budget rules. The total picture speaks in favor of the fact that the ruble may still be some growth potential, but the transition of trading in a state of consolidation or correction is coming. We orientirueshsya on trading in the range of 67.5?69,5 in the upcoming week.Markets look clearly peregrinatione markets full of optimism. Geopolitical confrontation between the US and China are not yet leading to actions that would threaten the global recovery. Dollar weakens amid additional measures to support Eurozone economic growth, which generally increases the interest to risky assets. The oil market is supported by industry statistics from the United States, pointing to the decline in production and the reduction of oil reserves. In addition, OPEC+ market promises to extend the agreement at least one month and improve the discipline of its execution by individual members. Finally, strong data on the marketat work in the United States may indicate that the worst is probably already behind us. Despite all the positive, markets are clearly overheated. The price of oil more abundantly laid possible positive from OPEC+. All this sets the stage for implementation of a corrective wave.The focus of U.S. statistics on unemployment.Oil prices grow amid news that OPEC talks+ about a possible extension of the cuts could be held June 6. Most key commodity and emerging currencies are rising because of massive stimulus measures by major Central banks and States, which adds to the cheap funding on global markets. In particular, the extension of ECB stimulus measures until 2021 and increase its asset-purchase program to €600 billion In the focus of U.S. statistics on unemployment.