The dollar is slowly getting cheaper; however, it is not helping oil to rise above $43 per barrel. Investors are being cautious about the ruble right now, according to FxPro Lead Analyst Alexander Kuptsikevich.
The expert commented that financial markets remain optimistic. Nasdaq 100 has been renewing historic highs almost every day in July.
But the dollar is falling slowly but surely, which reflects the recovering demand for risk assets. Commonly, in such circumstances oil significantly rises in value, the expert noted, because it is not easy to increase production. However, oil has long been unable to break the threshold of $43 per barrel, Rossiyskaya Gazeta reports.
As a result, investors are rather cautious when it comes to the ruble, the expert stressed. The stock market is growing due to the fact that investors are buying selected stocks of high-tech companies. Meanwhile, capital is slowly draining from other companies while the oil industry remains restricted by quotas, Kuptsikevich concluded.