Free Trial

RUB Weathers The Storm as USD Turns Bid into Month-End

EMERGING MARKETS

CEMEA FX

Bid in the USD on the back of firm data and tapering comments from Fed's Kaplan causing a squeeze higher in USD/CEMEA crosses – reaching key resistance levels.


  • TURKEY: USD/TRY +1.05%, now trading above 8.30 - Eying a return to the 8.50 handle. Res1: 8.3319, Res2: 8.3597
  • SA: USD/ZAR +1.19%, now trading marginally below 14.50 – looking to form a bullish engulfing candle on the daily. Local curve also bear steepening. Res1: 14.5159, Res2: 14.6081
  • RUSSIA: USD/RUB +0.59%, slightly more resilient than its high-beta peers despite a sharp reversal in oil futures. Res1: 75.1938, Res2: 75.3055
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.