In a large potential for reducing the ruble

"The global foreign exchange market rate of the single European currency continued to fall," - says analyst Bank.ru FxPro Alexander Kuptsikevech. "Today the German government imposed a partial ban on" short "sales of government bonds of countries within the zone of the single European currency - the euro. Also, the ban applies to credit default swaps, shares some of the largest German financial institutions. Any ban on the market perceives negatively. In addition, market participants believe that this step suggests that the Germans have something to hide. There are fears that there are problems about which we do not know. In addition, the measures suggest that previous efforts were ineffective. The market fell riskier assets, equities, currencies commodity-dependent countries, including Canadian and Australian dollars. At the same time growing the U.S. currency. The Russian currency market exchange rate fell. Decline occurred even against the euro. One of the reasons - a substantial decline in oil prices. It was disturbing that the debt problem went beyond Europe. Investors and speculators out of commodity assets, including the "black gold", and metals. Now oil costs less than $ 73 per barrel. Obviously, this concern OPEC. In general, the ruble has great potential for reduction. There is still hope that regulators will deal with the impending threat. They will be able to saturate the market with liquidity. If earlier, some experts and senior officials spoke of the need to tighten monetary policy. For example, there were rumors that the Bank of England and the Bank of Canada may raise base rates this year. Now forget all about it. There is no doubt that the tightening of monetary policy, increase the value of money early. Therefore, before the year is unlikely someone will raise the key rate. What we see in the markets - the consequence of the "debt shock". There are two scenarios. In the first stream of bad news to stop, and the markets will calm down. The second scenario - a negative one. In Europe, will grow discontent about the plan for Greece, the euro will fall, risky assets to decline. Oil may fall below 60 dollars per barrel. In the Russian market will be a tough drop. If market participants are in their forecasts come from the tightening of fiscal policy, then they can start mass to drop all of the assets and buy dollars. Speech to the idea of ??unprecedented measures to reduce budget deficits, lower government spending. It's tougher to come by reducing the levels of investment money into the economy, the incomes of citizens and companies, may lead to lower economic growth, stagnation, etc., - the expert believes. At 17:00 MSK in the UTS MICEX dollar rose to 30.7931 rubles ($ 0.4688), the euro, by contrast, has declined - to 37.5715 rubles (-0.0590).