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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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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
RUB Rattled By Putin Insults, Sanctions Threats - Risk Premia on the Rise
- USD/RUB opens flat to higher after a volatile session yesterday.
- Comments from Biden labelling Putin a killer and saying that Russian would pay for meddling in US selections saw the cross spike ~1.7% higher before easing somewhat on a more accommodative Fed.
- US relations remain a core focus as geopolitical risk premia re-build in RUB assets (5Y CDS + 16bp yesterday), despite Russia saying they're prepared to hedge against debt sanctions through CBR liquidity injections.
- Sanctions uncertainty and rising UST yields should keep the cross tentative in the near-term, having fallen just short of breaking its 3-month consolidation pattern.
- Oil markets softened this morning on the back of an EIA inventory build last night. Focus shifts to tomorrow's CBR where upside PPI & w/w CPI metrics reinforced concerns of an expedited hiking cycle to 1Q21 (MNI CBR Preview due today).
- Intraday Sup1: 73.5599, Sup2: 72.9534, Res1: 73.9786
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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.