USDRUB 4 HOURS
The US dollar is making attempts to strengthen. Recently, the US dollar has made a very strong fall against many world currencies. This is due to the unstable situation in the country. Mass protests are taking place on the streets of the United States. This situation makes it impossible to comply with the quarantine regime. In such an environment, the degree of the disease in the country reached its maximum rates worldwide. Small and medium-sized businesses were forced to stop their work. Only large corporations are fully functioning. But they do not have the ability to fully restore the country's economy. The rise in oil prices also played a role. But at the moment, oil is at a resistance level and is likely to go into correction due to low demand for oil products. Low demand for oil is a negative factor for the Russian economy. Which receives the main income from the country's resources (oil and gas). You also need to understand that the heating season has not yet begun, and the industry is not working at full capacity. This results in very low gas sales volumes. Against this background, the Russian currency cannot be very strong. Russia is also in a quarantine regime and the economy is not working at full capacity. In Russia, many economists talk about the devaluation of the ruble. And this can be seen already at the rate of the EURO RUB currency pair. The dollar is just beginning to rise. But most likely the unstable situation in the country will cause the Russian ruble to collapse.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.