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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
- The cross has continued to trend lower since establishing its mid-July highs at 103.75, pulling back -2.85% to hold below the 200dma on the daily chart.
- Oil prices have bounced back in the latter part of August, complimented by expectations for more policy tightening from the CBR in September – bolstering demand for RUB, despite choppy global risk conditions
- Price action is now drifting below 101 towards August lows at 100.6942 with an eye on the June lows at 100 round number support.
- A move through 100 would
open up a more comprehensive move lower towards 99 & 98.2942 support below,
dating back to December 2020
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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