Currency Forecast: ruble hostage of oil and world market

Foreign Exchange Market Finansy15-06-2009 Trader forecast: the ruble as hostages of oil and world market last week rates of major currencies and the ruble have changed relative to each other in a weak reference to the real situation in the global economy. Moreover - the Russian ruble at risk of becoming hostage to speculative rise in oil prices, but apparently, the Russian authorities understand this time. Thinking about investing in foreign currency, we must not forget that the crisis is much further from completion than it seems. Earlier this week, there was a slight strengthening of the dollar against the background of activation of speculative rumors about a possible rate hike by the Federal Reserve Board by the end of this year. Fed rate hike increases the yield of U.S. government bonds, traditionally the U.S. currency strengthens. The reason for such speculation was relatively positive statistics on the U.S. labor market. In particular, by the end of the overseas session on Monday, almost 70% of foreign exchange trading was considered quite a real event such as the growth rate in November-December 2009, said Andrew Bigness.ru Gangan, principal analyst at FG, "Kalita-Finans". But, says the analyst, by the middle of the week such rumors began to dissipate and the single European currency managed to win back part of your positions.