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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
- Risk-off tone dominating markets today, with high-beta currencies taking the brunt of it.
- Petro-currencies also under major pressure this week as disagreements within OPEC over August output levels spark concerns of output variations and frictions within the cartel.
- This has more than offset yesterday's hawkish CPI print that could see the CBR deliver another hike in the 75-100bp range on 23 July.
- RUB/JPY is now -5.18% off its 25 June high, trading towards 1.45 (-1.75% today). To the downside we have the 38.2% fib at 1.4447, followed by the 200dma at 1.4266.
- However, the RSI is trading in oversold territory at 26.55 – which could see buyers entering around the 1.45-1.4350 zone.
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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