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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 AccessRUB Volatile Ahead of Borrell Visit; Brent Outperformance Continues
- USD/RUB opens lower, supported by buoyant oil markets on higher conviction that OPEC+ is determined to accelerate market rebalancing without delay as inventories decline.
- Brent now pushing towards the $60 handle, despite risks of a firmer USD.
- Focus today on EU's Borrell arriving in Moscow for a two-day visit to discuss human rights violations in connection with Navalny's imprisonment.
- These meetings hold elevated sanctions risks and will likely be a key barometer for the severity of the EU's response.
- Sanctions will not likely be the immediate outcome, but Borrell will guide as to how the EU will eventually respond or if more negotiations will take place before the decision.
- USD/RUB continues to trade choppily within the 75.4225-76.38 band, awaiting more clarity on sanctions, now that Navalny has been sentenced.
- Sell-side happy to stay on the fence for now until a more definitive direction is established. Sup1: 75.4225, Sup2: 74.9969, Res1: 76.3870
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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.