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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
RUSSIA
- GBP/RUB has traded choppily in June-July with both the UK and Russia contending with greater hawkish factors entering their respective Central Banks' reaction functions
- The cross has flirted with the 200dma since June, and thus far, failed to establish a clear break in either direction.
- However, with the moving averages converging, we're now seeing early signs of a "death cross" with the 50dma moving below the 200dma – a universally bearish technical indicator
- Oscillator momentum remains mixed, holding around the 50 mark on the RSI but may slip below if RUB begins to gain the upper hand
- Key support below stands at 101 & 100, before opening up a larger move lower should price action beach the YTD low (100).
- Meanwhile a consolidated move above the 200 & 100dmas would likely signal a resumption of the uptrend towards 105 resistance.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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