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Dollar and Euro Opening with a Growth from the Start of the Week

Monday trading on the Moscow Exchange opened with a growth for the euro and the American dollar. At 09:37 EET the dollar was trading at 62.15 (+0.89%), whilst the euro was at 69.53 (+0.91%).

Today’s opening was important for all traders and speculators alike, since the USA and Europe would like to use the murder of Boris Nemtsov as a reason for new sanctions against Russia. The currency market reacted weakly to this event. One could suppose that it won’t have any significant effect on the currency market this week.

Brent oil is trading at 62.08 dollars a barrel. The bulls are gaining strength for an assault on the resistance zone of 62.95 – 63.35. According to the latest data from Baker Hughes, the total number of oil and gas drilling rigs fell this week by 43 to 1,267 The number of oil drilling rigs decreased this week by 33 to 986.

If on Monday the Ruble can hold its position on the back of the oil price rising, we can ready ourselves for a break in the 60 level for the dollar and a return to the 65 level for the euro.


Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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