The past week has forced the financial markets to cheer up. Euro
increased to a maximum against the dollar in almost a year, a second wind opened up for cryptocurrencies: bitcoin
took the mark at $31 thousand, and Ethereum – $2 thousand. What to expect from the new week, Office Life asked experts in traditional currencies and crypto.
What about exchange rates?
According to the executive director of the rating agency BIK Ratings Andrey Usachevthe past week showed that the influence of the Russian currency on the Belarusian ruble exchange rate exceeded other factors.
The weakening of the Russian ruble was facilitated by a seasonal decrease in the sale of foreign exchange earnings by exporters, while the demand for it from importers and speculators grew at the same time. The latter actively bought foreign currency in anticipation of an increase in capital outflow, including as a result of the withdrawal of a number of Western companies from Russia. This week, a gradual strengthening of the Russian ruble against the dollar is likely, and the downward trend of the ruble from mid-January of this year is most likely completed.
The expert explains: if last Thursday the Bank of Russia set the ruble against the dollar at 82.09, then on Friday the Russian ruble strengthened to 81.68. This week, the likely value of the Russian currency will be within the limits of 80 rubles per dollar. And the Belarusian ruble, respectively, can also strengthen.
What about the crypto market?
Analyst futureby.info Evgeny Glinsky draws attention to the following point: the consumer price index in the US fell to 5%, that is, below the expected forecast of 5.2%, which had a positive impact on the cryptocurrency market.
Bitcoin came out of its long accumulation and came to the target level of $30.819 thousand. After a slight correction, it can be expected that it will continue to grow to $31.742-32.384 thousand, under these levels and will be delayed until the next meeting of the US Federal Reserve and the announcement of changes in the interest rate. In the event of a neutral or positive signal from the Fed, the global target remains a range of $35,000. But if the interest rate is raised above the planned one, then we can expect a return of bitcoin below $28,000.
Eugene emphasizes that the banking crisis is not over yet, and if this factor continues to affect the markets, bitcoin could start a strong decline already from the range of about $32,000.