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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 EUROPEAN MARKETS ANALYSIS: ECB Expected To Cut Rates Later
MNI EUROPEAN OPEN: A$ & Local Yields Surge Following Jobs Data
RUB Resilient, While Possible OPEC+ Output Hikes Loom
- USD/RUB opens lower after peaking at 74.8466 in yesterday's session as risk-off hit EM FX.
- Oil slipped overnight as the Greenback caught a bid and may face some headwinds ahead of next week's OPEC+ meeting where some supply is expected to come back onto the market as lofty supercycle estimations of $100/bbl oil, prompt concerns of overly-tight output levels.
- However, ~4m bbls/day of output are currently offline due to the Texas deep freeze and will likely remain that way until 05 March.
- USD/RUB has been relatively more resilient than high-beta peers ZAR & TRY due to strong oil-side factors & cheaper valuations at current levels.
- This should play in its favour in prevailing volatility, but expectations oil output hikes may temper RUB strength on the margins.
- EU sanctions threats are mostly priced in at this point, and US sanctions are seemingly 2-3 weeks away.
- Intraday Sup1: 74.1611, Sup2: 73.9016, Res1: 74.5050, Res2: 74.8365
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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.