empty
 
 
Trump’s announcement boosts Russian ruble
08-04-2020 19:02
Trump’s announcement boosts Russian ruble
Trump’s announcement boosts Russian ruble

When investors were gripped by fears that the Russian ruble would fall deeper, help came from unexpected sources. The ruble inched up after the US president said that he was ready to help Russia and Saudi Arabia to open negotiations. The fact is that Vladimir Putin failed to come to an agreement with Saudi Arabia’s leader. Russia’s president had to ask Donald Trump to convince Saudi Arabia to continue negotiations with Russia. As a result, Donald Trump made an announcement on the subject, expressing hope that the two countries would reach a compromise. Both oil and currency markets advanced amid his speech. Thus, the Russian ruble advanced against the US dollar and the euro. The US dollar dropped below 77 rubles whereas the euro declined below 83 rubles. "I expect and hope that they will be cutting back approximately 10 million barrels, and maybe substantially more", the US president said. Such an announcement could have boosted the ruble even more. However, the Russian president accused Saudi Arabia of leaving the OPEC deal. As a result, Saudi Arabia said that the accusation was "fully devoid of truth" and refused to resume negotiations. Of course, there is a possibility that the Russian national currency will lose ground again.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS
Can't speak right now?
Ask your question in the chat.
Widget callback