MNI BRIEF: US Treasuries Seen Increasingly Risky-JH Paper

MNI: FED’S POWELL: TIME HAS COME FOR POLICY TO ADJUST

MNI China Daily Summary: Friday, Aug 23

MNI: PBOC Net Injects CNY241.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Fri; +2.17% Y/Y

CHINA PBOC CONDUCTS CNY379.3 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: US JUL NEW HOME SALES +10.6% TO 0.739M SAAR

EZ/UK Bond Supply Calendar: EFSF RfP Sent, EU-Bonds Due Monday

MNI: CANADIAN JUN RETAIL SALES -0.3%; SALES EX-AUTOS/PARTS +0.3%

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 Rises +4%, Breaching 77.00 as Geopolitics & Global Risk-Off Take a Toll

RUSSIA
  • USD/RUB trades +0.31% higher this morning, continuing its slow grind higher with local markets still on holiday and uncertainty over weekend US-Russia talks building.
  • The cross has risen +3.93% this week towards 77.00, ranking among the worst EM performers globally.
  • The move is somewhat surprising, given firmer oil markets and limited changes in the Ukraine crisis/geopolitical tensions with the West – but speaks to high uncertainty and broad risk aversion in global markets right now.
  • Expectations for the weekend meeting are likely to see some improvements in terms of dialogue, but not a huge amount of progress on de-escalation unless both sides agree to make some concessions – which seems hard to imagine at this point.
  • RUB weakness should also add weigh to expectations for another Feb hike, with passthrough via the FX channel a major concern for the CBR.
  • Intraday Sup1: 76.2144, Sup2: 75.5636, Res1: 77.3381, Res2: 77.7370
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.