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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 AccessUkraine Tensions Keep USD/RUB Choppy, Markets Eye CBR Hike
- USD/RUB opens higher as sabre-rattling with the West over tensions with Ukraine and pressure to provide adequate medical care to Navalny dent Russian sentiment.
- Reports of broken ceasefires on the Donbass and UK destroyers heading to the Black Sea are likely to keep tensions high and USD/RUB choppy this week as the headline ping-pong resumes.
- Markets will also be watching EU discussions today regarding Navalny for further sanctions threats from the UK & EU.
- Oil markets slipped this morning as rising covid cases in India and a possible fourth wave for Japan raised demand-side concerns.
- Primary focus this week remains on Friday's CBR meeting where markets are expecting a second 25bp hike in line with CBR promises of a gradual tightening to offset rising inflationary pressures.
- Last week 3x6 Fra-Mosprime spreads narrowed 29.5bp from a peak of +115bp to +85.5bp. USD/RUB should occupy the 75.50-77 range this week, unless concrete signs of de-escalation with Ukraine emerge - which seems slightly premature at this juncture.
- Intraday Sup1: 76.0210, Sup2: 75.7372, Res1: 76.3312, Res2: 76.6621
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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.