On Friday, December 6, the ruble won a convincing victory over the euro, but it had to retreat a little in front of the dollar. At the close of trading on Friday, the dollar rate with calculations “for tomorrow” rose, but only by 4 kop. and the euro fell sensitively again, this time by 26pc. (-0.37%), up 70.5 rubles.
The single European currency on Friday fell quite significantly against the dollar, by 0.4%, having collapsed to the lowest level for the last four years, which was immediately used by the ruble. The euro is nervous in the run-up to the early parliamentary elections in the UK, as well as the exchange rate of the single European currency was influenced by weak statistics on retail sales in the eurozone, which turned out to be worse than analysts’ expectations.
And the “Russian” helped to strengthen against the euro and partly to contain the dollar’s onslaught of the rising price of oil. Thus, the oil mixture on Friday rose by 1.5%, to $63.9 per barrel, against the background of the agreement reached by OPEC member countries on a new reduction in oil production, which will last until the end of the first quarter of 2020. Russia will increase its quota to reduce oil production by 70,000. barrels per day, Saudi Arabia – at least 167,000. B/C. In the morning oil prices are falling after a strong growth, the price of Brent is adjusted down by 0.28%.
We believe that today at the opening the ruble can again show divergent dynamics. We reduce the forecast for the dollar to 63-64 rubles, and at the euro – to 70-71 rubles.
Natalia Milchakova, deputy head of alpari Information and Analysis Centre