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EIA Inventories & China Data Boost Crude, RUB

RUSSIA
  • USD/RUB pares the opening breakout gap higher as the greenback eases slightly, supported by a firmer open in oil markets.
  • Crude notched up after EIA inventories showed a draw, and strong China data offset some concerns about demand-side factors.
  • RUB continues to be favoured by the sell-side on upside oil projections towards $65/bbl and may look to challenge 73.4459 support in today's session, provided the $ plays ball.
  • Headline risks from US sanctions on the Nord Stream 2 project today/tomorrow should be noted.
  • Sup2: 73.1217, Res1: 73.9408, Res2: 74.1755
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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