On Tuesday, demand for risky assets in world markets continues. After the weekend, D. Trump said that the US can expand customs duties on goods in an additional amount of $ 100 billion, and on Monday, he made it clear that they may not be introduced. The markets have largely grown optimistic sentiments, which have become the cause of increased demand for risk.
At the Forex currency market, the dollar turned out to be under pressure. Today, it continues to decline, with the exception of paired with the Japanese yen, which has weakened. Gold is also still in demand, but not so noticeable, as the uncertainty factor in the markets still remains.
On Monday, the Russian stock market collapsed. The ruble suffered a great deal in pairs with the euro and the US dollar. In the domestic foreign exchange market, there is clearly a panic. Foreign investors who actively sold ruble assets, bought foreign currency, which caused a decline in the ruble's quotations. At the same time, it seems that there was also an increased activity of speculators in the domestic foreign exchange market, which played against the Russian currency, using the new wide sanctions of the US against Russia.
It can be assumed that as long as fears do not settle, the ruble may remain under pressure and continue its weakening. An additional blow for him may be a drop in demand for OFZs from foreign investors frightened by new sanctions, which, to a large extent, are holders of these government bonds.
Estimating probable prospects, we believe that the persistence of panic sentiment could lead to a weakening of the ruble against the dollar to the level of 65 rubles per dollar. Against this background, the euro could be paired with the ruble to approach the mark of 80 rubles per euro. But, again, pay attention, this should be expected in the event that the panic in the currency market of the Russian Federation does not stop.
Forecast of the day:
The currency pair EUR / USD gets support on the wave of growth in demand for risky assets and the depreciation of the dollar. But, despite such dynamics, it still remains in the range and can grow locally to 1.2380 if it overcomes the 1.2335 mark. At the same time, a decrease in demand for risk may lead to its reversal down to 1.2255 on the background of technical overbought.
The currency pair USD / CAD fell on the wave of rising oil prices and a general decline in the dollar. If the quotes of "black gold" today decline, you should also expect price correction and a pair. On this wave, it can recover to 1.2750.