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 opens lower this morning, having moved sharply higher in the wake of the hawkish surprise from the FOMC.
- This erased the moderately RUB positive reaction to the Biden-Putin meeting, which followed our base case scenario of a firm, but not overtly aggressive approach from Biden – opting to focus on areas with scope for improvement, rather than attack Russia's red lines on Ukraine & Navalny.
- With a positive platform for dialogue and more effective communications now having been established, the focus shifts to inter-agency level talks.
- Post-FOMC reaction should dominate market sentiment today, with risk-off and USD strength being the flavour thus far.
- Oil markets slipped back into the red on the back of a firmer USD, with Brent retesting the $74/bbl handle.
- Attention is now on the 72.6566 resistance level corresponding to the major support break made last week, with price action moving out of oversold territory on the daily chart.
- A move above here opens up 73.00 to the topside and 73.50 above.
- However, markets still remain bullish on RUB over the medium-term, given firm oil prices and hawkish posturing from the CBR.
- Intraday Sup1: 72.3409, Sup2: 72.0413, Res1: 72.6566, Res2: 72.9534