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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.
RUSSIA
- USD/RUB continues to trade with multiple quotes onshore.
- USD/RUB BGN closed -1.96% lower, having traded in a 15.14% range from 125-147 to close around 133.50.
- 150.00 resistance has held in the past few sessions with the cross trading mostly sideways after Monday’s peak at 177.26.
- Meanwhile, USD/RUB REGN traded within a 5.84% range between 116-123 to close at 118.698.
- CBR says it is now exploring opening gup stock trading next week, which will likely result in heavy losses for MOEX listed stocks.
- For today, the focus will be on Biden’s speech – but the conflict is no nearer to conclusion as Russia fortifies its position to make the next assault on Kyiv in the coming days.
- Removing Russia’s MFN status at the WTO would be the next major sanctions blow, which would undoubtedly hamper its post-conflict recovery.
- As we have been highlighting, Putin is still determined to offset political losses at home and the only way to do that is by gaining more meaningful control over Kyiv.
- Russia’s next push on the capital will likely determine how long the conflict endures, with Russian forces likely to increase the intensity due to Kyiv’s fierce resistance thus far.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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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