Free Trial

Headline Risks Abound for USD/RUB as EU Summit Kicks Off, Oil Markets Firm

RUSSIA
  • USD/RUB opens lower towards 73.50, having pulled back above the level at the back end of last week after the US Treasury blacklisted Russian ships and companies
  • Going against Blinken's comments RE NS2 sanctions being counter to US interests.
  • Oil markets trade +1% firmer after the Iran dial hit a snag after Iran's speaker said a 3-month monitoring deal between Tehran & UN nuclear watchdog had expired – ceasing imaging access to its nuclear sites.
  • Focus today remains on the EU Summit, set to discuss Russia-EU relations.
  • Firm rhetoric form EU's Michel in the lead up to today, may suggest a tense two days of discussions – with headline risks to USD/RUB abound.
  • Friday's NS2 bump in the road has scuppered the next downleg for now, and we will need to see a move below 73.35 to open up a continuation towards the 73.00 level and below.
  • Intraday Sup1: 73.4728, Sup2: 73.3652, Res1: 73.7436, Res2: 73.9706
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

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.