MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

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 Stalls Slightly as Brent Heads for First Weekly Loss Since March, PPI Data In Focus

RUSSIA
  • USD/RUB gaps lower at the open after drifting towards 74.50 in yesterday's session.
  • The cross has traded choppily the entire week around the 74.00 handle, showing very little directionality since Tuesday's session.
  • Oil markets remain under pressure this morning with brent slipping -0.31% towards $73.26 as it faces its first weekly loss since March.
  • The Merkel-Biden meeting saw no real negative developments in terms of NS2, other than Germany remaining resolute on transit via Ukraine (something Putin has agreed to keep doing).
  • Beyond this, we will be looking for US-Russia cybersecurity talks today, which were oddly confirmed for today but have not been discussed again since Monday.
  • Any form of constructive dialogue on the issue will be positive for the RUB, with Putin largely showing an openness to cooperation on the subject in prior discussions.
  • 74.00 support has proven robust in USD/RUB this week, but at these levels, RUB will start to look attractive ahead of next week's presumably hawkish CBR.
  • Focus today will be on PPI data, which is expected to moderate somewhat against a backdrop of rising headline CPI which may temper hawkish expectations slightly if we see an even lower print today.
  • Intraday Sup1: 74.0875, Sup2: 73.7653, Res1: 74.4614, Res2: 74.8061
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.