1 November 2022 | Other

Russian ruble stabilizes after Russia suspends participation in Black Sea grain deal

According to Reuters, the Russian ruble has reduced its losses after Moscow said at the weekend that it would suspend its participation in a historic grain deal in the Black Sea.

In addition, Monday was the last day of the tax period at the end of the month, during which the ruble usually receives some support, and there was also the first meeting after the Bank of Russia ended its rate-cutting cycle.

Dmitry Polevoy, chief investment officer at Moscow broker Locko Invest, said that the completion of the end-of-month tax period and massive dividend payments, combined with a further decline in Russia's trade balance, would presumably strengthen the ruble toward 65 (against the U.S. dollar) by year-end.

Company MarketCheese
Period: 01.07.2026 Expectation: 250 pips
Go short on SPX with Fed's updated dot plot
Today at 10:32 AM 5
Period: 25.06.2026 Expectation: 2100 pips
Selling USDJPY with 158.500 in mind amid rising inflation risks
Today at 10:25 AM 6
Period: 25.06.2026 Expectation: 235 pips
ETHUSD sell-off targets $1,500
Today at 09:12 AM 8
Gold sell
Period: 25.06.2026 Expectation: 2100 pips
Sell gold with $4,110 in sight as Fed stays hawkish
Today at 06:40 AM 27
Period: 30.06.2026 Expectation: 400 pips
Покупка USDJPY до уровня 160,00
Today at 05:26 AM 31
Period: 31.12.2026 Expectation: 1800 pips
Invest in SPX with $7,700 in view
Today at 04:47 AM 9
Go to forecasts