MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

MNI BRIEF: China State Planner To Increase Trade-in Support

MNI China Daily Summary: Thursday, July 25

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

US EIA:NAT GAS STORAGE +22 BCF TO 3,231 BCF JUL 19 WK

Core Goods Pipeline Pressures Pick Up On 3m/3m Basis

Aircraft-Led Durables Collapse Masks Rebound In Core Orders

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

RUB Bulls Eye Tight Oil Inventory data, Hawkish CBR as USD/RUB Hovers above 74

RUSSIA
  • USD/RUB opens lower on the back of early selling pressure on the BBDXY.
  • The cross pared early downside in yesterday's session following a hotter than expected US CPI print that roiled EMFX.
  • Oil markets trade a fraction lower this morning, with Brent hovering around $76.50 after China's 1H21 crude imports dropped.
  • However, supply concerns offset a portion of the decline with API inventories registering an eighth successive weekly drop.
  • USD/RUB failed to close below 74.00 in yesterday's session, but may begin to drift lower into next week on expectations for a more hawkish CBR meeting.
  • A move below 74.00 opens up 73.50 & 73.00 below as downside targets alongside the 50dma at 73.3379.
  • The covid situation in Russia appears to be escalating somewhat with the death rate increasing sharply in the past few days, as the Delta variant becomes more dominant.
  • Govt has shown little interest in increasing restrictions, however.
  • Intraday Sup1: 73.8980, Sup2: 73.7653, Res1: 74.2486, Res2: 74.8061
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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.