Free Trial

USD/RUB: Ryabkov Promises Soothe Fears Slightly, But Status Quo With West Remains Intact

RUSSIA
  • USD/RUB trades +0.60% higher this morning, broadly in line with the pullback in oil prices.
  • Comments from Ryabkov yesterday against all out war saw the cross fall sharply, but failed to hold below 76.00.
  • This is largely due to little change in the overall status quo as we await written responses from the West – which represent a more important indicator of the longevity of negotiations.
  • In the meanwhile, troops continue to move to Belarus ahead of military drills in Feb - keeping tensions high.
  • Comments from Biden pushing back on Ukraine’s NATO membership will be well-received by Russia, but it seems that Russia boots on Ukrainian soil are the trigger for US sanctions.
  • The cross is currently pegged in a broad range between 75.5827-77.1812 – driven by global risk sentiment and geopolitical headline risks.
  • Intraday Sup1: 76.015, Sup2: 75.5872, Res1: 77.878, Res2: 77.1812
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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.