Free Trial
AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

USDCAD TECHS

Trend Structure Remains Bullish

US TSYS

Cautious Risk Appetite Gains Momentum

AUDUSD TECHS

Key Support Still Exposed

US STOCKS

Late Equity Roundup: 2W Highs

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
RUSSIA
  • USD/RUB opens lower after decisively pushing below the 75.00 handle during Friday's session following a predictable softer sanctions approach from the EU, seeing an unwind in Navalny-based sanctions risk premia baked into RUB assets.
  • Focus this week will be on Friday's CBR meeting, where the base case for most remains a hold given the recent spike in inflation.
  • Tone regarding how concerned the bank is on the duration of recent price pressures will be the key element in determining whether these effects will be transient (as most expect - fading by 2H21) or more protracted in nature - necessitating an expedited hiking cycle to anchor CPI lower.
  • RUB remains undervalued relative to EM peers at these levels having reversed from 73.00 to 76.48 on Navalny risks, but with those subsiding and oil prices trading near $60/bbl, we may see RUB optimism return in the next few weeks, provided global risk sentiment plays ball.
  • Sup1: 73.9016, Sup2: 73.4109, Res1: 74.73, Res2: 74.9969
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

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.