Free Trial

RUB Revels In Brent Gains as futures trade above $52

RUSSIA
  • USD/RUB opens lower on a downbeat greenback and strong commodities post-Fed.
  • Brent now trading towards $52/bbl after yesterday's crude stock draw & NatGas +1.03% around 16.50.
  • Spot opened below the 73.00 handle and 71.6% fib following two days of choppy rangebound trading, now approaching the weekly low at 72.8237- 72.80.
  • Next major support coming in at 72.6391 (Low Aug 5), followed by 72.08-72.00 round number support.
  • Sell side still favouring more downside in the short trade.
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

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.