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- President Putin chairs a government meeting Wednesday, at which they will discuss the domestic COVID-19 situation. The meeting comes as a number of cities including Moscow and St Petersburg are tightening activity restrictions in response to a COVID-19 cases growing at their fastest pace on record.
- Moscow have adopted a so-called 'senior' lockdown stance, with unvaccinated individuals directed to stay at home for four months, while Putin is to be asked to make the Oct 30 - Nov 7 period non-working days across the country. The Russian PM said the moves are an attempt to reduce the burden on the healthcare system and get ahead of the curve.
- Deputy Minister for Foreign Affairs Pankin has suggested that cryptocurrencies could be an alternative asset to the USD for use within the Russian economy, according to a report in Interfax.
- Finance minister Siluanov appears at the Federation Council, while Foreign Minister Lavrov holds a meeting on Afghanistan that includes Taliban representatives.
- PPI and weekly CPI data is on the docket Wednesday, with markets expecting M/M CPI to slow to 0.8% from 1.5% previously.
- USD/RUB finished Tuesday at the lowest level since late July last year. This keeps the outlook bearish. Support at 71.5542, Jun 11 low has been breached and this confirms a resumption of the broader downleg that has been in place since early November 2020. 71.0838, 76.4% retracement of the Jun - Nov 2020 rally has also been cleared and this opens 70.5395, Jul 21, 2020 low. Initial firm resistance is at 72.1306, Oct 13 high.