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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 AccessMNI: PBOC Net Drains CNY227 Bln via OMO Wednesday
MNI BRIEF: Aussie Q3 GDP Prints At 0.3% Q/Q
USD/RUB Edges Closer to 75.00 Ahead of OPEC+ Meeting, Geopolitical Risks In Focus
- USD/RUB trades +0.57% higher this morning, tracking early strength in the BBDXY with oil markets mostly flat so far.
- Brent found support around $77/bbl yesterday, with the focus on $80 resistance for the next leg higher towards the October highs.
- OPEC+ is expected to meet today with markets anticipating the cartel will stick with planned Feb output increases.
- Geopolitical tensions will be the key focus this week ahead of the weekend US-Russia negotiations.
- Relations remain frayed at this juncture, with neither side backing down from its position – but showing an openness to dialogue.
- Embedded geopolitical risk premia have edged slightly lower from the mid-December peak, but remain notably elevated with the 5Y CDS trading at 123.60.
- Markets will likely be tactical on RUB in the lead-up to the meeting, with decent resistance in USD/RUB coming in around 75.1198-75.9190.
- Intraday Sup1: 74.5023, Sup2: 74.3325, Res1: 75.0630, Res2: 75.285
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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.