MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

MNI: UK NOV FINAL MANUF PMI 48.0 (FLASH 48.6); OCT 49.9

MNI: EUROZONE NOV FINAL MANUF PMI 45.2 (FLASH 45.2); OCT 46.0

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

MNI: EUROZONE OCT UNEMPLOYMENT RATE 6.3%

MNI: GERMANY NOV FINAL MANUF PMI 43.0 (FLASH 43.2); OCT 43.0

MNI: FRANCE NOV FINAL MANUF PMI 43.1 (FLASH 43.2); OCT 44.5

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

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

USD/RUB: Hawkish Fed Erases Post-Meeting Optimism from Geneva Summit, 72.65 Level Eyed

RUSSIA
  • 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
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.