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By the end of October, the foreign exchange market had to experience several fateful events at once, which had an impact on both the US dollar and the currencies of developing countries (EM).
Schedule of the ruble exchange rate in recent days it has been showing a sideways trend, but according to some analysts, the "Russian" is overrated and may be under pressure from external factors if oil does not rise. At the same time, stable internal factors of support for it have not yet been observed.
You can follow the news of the currency segment in the dollar-ruble pair, read the current statistical data and quotes on the Instaforex company website, on the page dedicated to the dollar and the ruble.
There will be no summit in Chile
The summit of the international format of APEC, which was supposed to take place in Chile in the second half of November, was canceled at the initiative of the country's president. The reason for the drastic force majeure decision is increased mass unrest caused by an increase in public transport fares. A state of emergency has been introduced in the country, there are human victims.
At the summit, in addition to solving geopolitical issues, a meeting between Donald Trump and his Chinese counterpart was supposed to take place. At the meeting, it was planned to discuss pressing issues and reach an agreement, at least temporarily.
At the moment, the representatives of both countries are discussing an alternative time and place for negotiations. The markets have different moods regarding the results of the meeting, hoping for an agreement between the superpowers, but fearing the cancellation of negotiations and impulsive decisions, especially on the part of Trump.
Fed cuts rate
For the third time this year (for the first time since 2008), the Federal Reserve System is going to lower the interest rate, again by 0,25%. The reason for softening the policy is ambiguous, mostly negative indicators from several areas of the economy in the USA.
Powell, the head of the Central Bank, said that the third reduction, apparently, will be the last this year, and the regulator does not plan to follow the path of further softening of the policy. An exception will be made only if the indicators of the economy differ significantly from analysts' forecasts.
The US dollar, despite the traditional practice in these cases, reacted to the rate cut by strengthening, but after Powell's speech, it began to weaken. The currencies of the EM basket, which includes the Russian ruble, took the Fed's decision mostly neutrally.
