The Dollar Fell to 66, the Euro to 70

In Russia, from Monday-Tuesday, trading on the currency market of the Moscow Exchange is not held on the occasion of national holidays. Perhaps market participants in the interbank market do not have enough ruble liquidity; which was due to the absence of trading in the Russian Federation.

On Friday, on the Moscow Exchange, the closing rate for USD/RUB_TOM was 70.96, while the EUR/RUB_TOM rate was 74.75.

There was no severe support from commodity prices. Brent oil is losing 0.7% today, being at 106.9. Gas in Europe rose in price by 3%; however, last week prices were higher, and this growth did not substantially impact.

Eurozone Business Growth Got Boost

The eurozone’s primary services industry took advantage of a further relaxing of COVID-19 limitations last month, countering a near-stall in industrial production growth, according to a poll released on Wednesday.

The final composite Purchasing Managers’ Index (PMI) from S&P Global climbed to 55.8 in April from 54.9 in March, matching a preliminary estimate. Anything above 50 shows expansion. The services PMI increased to 57.7 from 55.6 last month, the highest number since August. According to a sister survey released on Monday, this comes after the region’s factory PMI plummeted to a 15-month low of 55.5. With the constraints imposed to contain the coronavirus lessening and life returning to normalcy, optimism increased. The services business expectations sub-index rose to 62.3 from 60.8.

However, enterprises are still facing rising costs. They have transferred some of that burden onto consumers, resulting in a jump in the composite output price index to 68.5 from 65.7, the highest level since S&P Global began collecting the data in late 2002.