Quick Win by the Algorithm: USD/RUB Return Of 6.67% In 1 Month

Quick Win by the Algorithm

On June 7, 2017, the I Know First algorithm issued a positive currency forecast for the USD/RUB return with a signal of 9.88 and a predictability factor of 0.47. In accordance with the forecast the USD yielded 6.67% against the Russian Ruble in 1 month.

quick win

The Ruble was responsible for the positive dollar result. The greenback indeed showed only moderate and mixed signals against major counterparts during the same period. The Russian currency faced strong downward pressure due to falling oil prices. The crude reached a low of $45 per barrel, marking a 10% decrease over the month of June and putting an end to a long appreciation trend. The Russian finance ministry continued with its forex purchases but apparently the scale of the operation was too limited to have an impact on the exchange rate. However, as some analyst highlighted, a weaker Ruble might not be necessarily bad for the country, as it could represent a good ally for growth.

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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