US NOV FLASH MANUF PMI 48.8 (FCST: 48.9); OCT 48.5

MNI:Largest Canada New Home Price Dip Since `09 Led By Toronto

CANADIAN OCT FLASH RETAIL SALES +0.7%, 4TH STRAIGHT INCREASE

MNI China Daily Summary: Friday, November 22

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL NOV INDEX 71.8

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USD/RUB Bounces Off its 200dma; Markets Eye Potential Steps Towards In-Person Contacts

RUSSIA
  • USD/RUB trades -0.02% lower this morning, broadly in line with firmer oil markets and a softer BBDXY.
  • The cross rose +0.66% in yesterday’s session to close above 74.00 with price action failing to break below the 200dma.
  • In terms of today’s Biden-Putin meeting, both sides remain resolute in their current positions, making unlikely that either will step back on their demands at this stage and instead move talks towards a face-to-face in Jan 2022.
  • This scenario would represent a mildly positive development and should be RUB supportive.
  • The US is likely to call for Russia to pull back its troops from the border and reiterate economic sanctions threats, should Russia invade Ukraine, while Russia will call for NATO to end its eastward expansion – demands neither side will likely acquiesce to.
  • While threats of SWIFT sanctions have not moved the needle too much in RUB, further threats coming directly from the Biden Administration following today’s meeting could add weight to concerns.
  • On the oil front, markets will look to API inventory data for signs of demand/supply imbalances with Brent still trading below the $75/bbl handle.
  • Intraday Sup1: 73.9915, Sup2: 73.5033, Sup3: 73.3150, Res1: 74.4485 Res2: 74.75558
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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.