MNI: PBOC Sets Yuan Parity Lower At 7.1228 Thurs; +2.24% Y/Y

MNI: PBOC Net Drains CNY218.4 Bln via OMO Thursday

CHINA PBOC CONDUCTS CNY359.3 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1228 THURS VS 7.1307

MNI BRIEF: BOK Holds Rate, Downgrades GDP, CPI View

MNI: PBOC Net Drains CNY111.2 Bln via OMO Wednesday

MNI: EUROZONE AUG FLASH MANUF PMI 45.6 (FCST 45.8); JUL 45.8

MNI: GERMANY AUG FLASH MANUF PMI 42.1 (FCST 43.3); JUL 43.2

MNI: NORWAY MAY MAINLAND GDP +0% M/M, AGG GDP +2.3% M/M

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

USD/RUB Holds a Wide Range Ahead of Talks, Market Looks for Dialogue Continuity

RUSSIA
  • USD/RUB trades -0.03% lower this morning, treading water in the 76.00-77.1812 range as elevated geopolitical uncertainty keeps RUB on the back foot.
  • Crude is off -2% this morning, pulling back from $88/bbl, but markets remain mostly bullish given strong backwardation and a tight supply/demand outlook.
  • Markets will be looking for signs of continuity in US-Russia talks, with Russia edging closer to collapsing talks entirely on frustration over a lack of progress on its security guarantees against NATO expansion.
  • While the West’s written responses are a more decisive pivot point for negotiations, today’s talks could either bring Russia back to the table or push it further away.
  • US attempts to draw talks away from Russian security proposals towards Ukraine will likely not go down well with Russia – so scope of the talks is important.
  • Neither side seems likely to soften on its red lines, but agreements for more talks could be construed as mildly positive but insufficient to break the current status quo.
  • USD/RUB should trade in a wide range (76.5827-77.1812) and remains vulnerable to intraday headline risks.
  • Intraday Sup1: 76.2144, Sup2: 76.015, Sup3: 75.5827, Res1: 77.8878, Res2: 77.1812, Res3: 77.5032
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.