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USD/RUB Regains its Composure Around 77.00, Weekend US-Russia Talks In Focus

RUSSIA
  • USD/RUB trades -0.30% lower this morning, broadly in line with early selling pressure on the BBDXY and Brent holding +0.38% higher.
  • Oil and Natgas continue to march hinger this week, but have had limited effect on RUB.
  • USD/RUB has been under a surprising amount of sustained pressure this week owing to geopolitical uncertainty, extended holidays and unrest in Kazakhstan – but managed to regain its composure around the 77 handle after looking decidedly stretched.
  • Focus will be on weekend US-Russia talks, with both sides expected to stay resolute their red lines on key topics like NATO presence near Russian borders and Russian troops near Ukraine, but look for smaller concessions in other areas of cooperation.
  • While no major breakthroughs are expected, continuation of the dialogue and minor concessions would mark a marginal improvement on the current status quo – which remains tense.
  • US NFPs will the be international focus, alongside the trajectory of the Kazakhstan unrest – which has been weighing slightly on the RUB.
  • Intraday Sup1: 75.5636, Sup2: 75.2853, Res1: 76.5232, Res2: 77.1812
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

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