Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
Reporting on key macro data at the time of release.
Real-time insight on key fixed income and fx markets.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
- USD/RUB gaps lower at the open on the back of early selling pressure in the BBDXY.
- RUB was the notable outperformer yesterday, with oil markets regaining some composure after an aggressive sell-off earlier in the week.
- Brent is trading marginally in the red this morning, following yesterday's surprise EIA inventory build. Markets will be watching the 73.34 level for signs of a return to levels around $75/bbl.
- Hawkish expectations for Friday's CBR may also be spurring RUB demand as markets expect the CBR to hike in the +75-100bp range amid acute overshooting pressures in CPI and runaway expectations.
- Our base case is for +75bp, with material risks to a one-off +100bp hike – however a moderating in high-frequency data in June may see the CBR favour +75bp and retain some optionality for further hikes should CPI data fail to moderate on expected base effects.
- Intraday Sup1: 73.5342, Sup2: 73.2181, Res1: 73.9435, Res2: 74.2486