Expert: dollar exchange rate can repeat 2008 & nbsp

The Russian ruble managed to return to growth this week against the dollar and slightly changed against the euro at the end of the week. On Friday, the dollar fell 18 cents to 70.72, the euro also went below the mark of 80 rubles.

As explained by FxPro lead analyst Alexander Kuptsykevich, an important turning point occurred within a week when the stalled global financial markets and oil did not cause the ruble to weaken, and he carefully developed the strengthening. This can be considered a signal that the markets put sanctions risks in quotes, and then the Russian currency can go in the same wake with the markets.

Unfortunately, this does not promise a cloudless sky. World indices stalled and retreated from the highs of the beginning of last week due to the growing number of infections and deaths in the United States. This again returned to markets fears of a lockdown and its accompanying economic downturn.

“However, in our opinion, this time the markets are not so scared: politicians and bidders already better understand the situation and act more deliberately, do not cut off the shoulder. It is worth paying attention that oil and metals are redeemed on failures. The same model of behavior of traders can be applied next week for the ruble, allowing you to see it at 70 per dollar and below 79 per euro, ”Alexander Kuptsichevich comments on the news of the dollar exchange rate.

However, the analyst recalls that mid-summer is often a turning point for markets, where large funds, having made forecasts for the coming quarters, begin to act on the basis of prospects for the second half of the year. It is unlikely to be easy and unidirectional.

“For markets, this means that they can lose important growth drivers. Sustainable sales during the week promise to be a very bad omen for the markets for the entire second half of the year, reviving the memory of how different markets fell one after the other in the summer of 2008 and what it resulted in October of that year, ”the expert predicts the dollar exchange rate.

. (Source: rambler)