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Why MNI
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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 BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
USD/RUB Eyes 73.00, Supported By Oil Gains & Hawkish CBR
- USD/RUB trades slightly higher at the open after mounting a sustained move lower in yesterday's session to retest the 01 June lows at 73.09.
- Brent managed to hold onto gains above $71/bbl in yesterday's session with traders becoming more bullish on the demand outlook – adding support to RUB.
- Progress on the bill banning 'extremist' organisations is yet another blow for Navalny's organization ahead of State Duma elections in September, which United Russia is increasingly tightening its grip on.
- Services PMI data surprised to the upside this morning, adding weight to CBR assertions of strong internal demand driving price pressures.
- Markets will begin to dial into CBR communications in the lead-up to next Friday's rate-setting meeting,
- with markets expecting a continuation in its currently hawkish trajectory, given sticky inflation forecasts in the 5-6% bracket.
- 3x6FRA-Mosprime spreads highlighting +88bp priced into markets on a 3-6m horizon, lifting +10bp tis morning.
- Intraday Sup1: 73.091, Sup2: 72.9534, Res1: 73.4212, Res2: 73.5483
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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.