The Factors That Will Most Affect the Ruble Exchange Rate in December are Named
OREANDA-NEWS. In the near future, a number of factors will help determine the situation in the financial markets. The head of the analytical research department at the Higher School of Financial Management Mikhail Kogan listed events that will affect the ruble exchange rate in the last weeks of the outgoing year.
As "Rossiyskaya Gazeta" writes, one of such events awaits investors on Wednesday, December 16. The Fed will hold a pivotal meeting to focus on statements about the scope and nature of the buyback program.
According to the economist, another factor that can affect the foreign exchange market will be the discussion of the stimulus program by the US Congress.
Mikhail Kogan believes that given the absence in the program, at least in its current form, of “checks for the population”, which were in March, the adoption of the stimulus package may also provoke profit-taking at the end of the year.
Kogan added that the course of trading on the stock exchange on Thursday and Friday, December 17 and 18, will help determine with what exchange rate the ruble will go in the new year, and what indicators should be expected from the ruble-dollar, ruble-euro currency pairs.
And according to Artyom Tuzov, Executive Director of the Capital Market Department at Univer Capital, Biden's victory has already supported the ruble exchange rate, and stabilization is expected in the foreign exchange market in the near future.