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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.
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USD/RUB Takes Out Key Support & 100dma, Eyes More Downside
- USD/RUB opens slightly higher on the back of some early $ buying to retrace a portion of the post-FOMC weakness.
- The cross closed decisively below the 74.50 handle in yesterday's session, clearing the lateral consolidation range and 100dma - possibly opening up the next downleg.
- Oil markets trade slightly firmer as Citi analyst note global oil inventories may be closer to rebalancing than OPEC may think, given most of the overhang has been absorbed by markets.
- Risk-on is likely to help support RUB sentiment in conjunction with a hawkish CBR and continued unwind in geopolitical risk premia (5Y CDS -1.83% w/w), despite comments from Borrell regarding a unified EU in tackling Russian regional aggression.
- Moves from Kiev to block progress on the Donbass ceasefire are somewhat concerning and will need to be monitored, but tensions have simmered substantially.
- Intraday Sup1: 74.1981, Sup2: 73.9706, Res1: 73.6370, Res2: 74.8347
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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.