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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.
RUSSIA
- USD/RUB trades -0.05% lower this morning, mirroring gains in the oil market filtering through from the APAC session.
- The cross fell -0.50% yesterday, buoyed by upbeat Chinese data, but failed to breach 72.00 support with geopolitical headline risks keeping the cross tentative.
- Oil markets trade +0.80% higher this morning – having fallen short of testing the 05 Nov lows at $80.26 in yesterday's session. Attention now shifts to API inventory data this afternoon.
- Geopolitical tensions continue to rise with the US and NATO becoming increasingly vocal about troop movements near Ukraine – pushing Russia's 5Y CDS up over +12bp since Friday towards the 100 handle.
- The West has threatened sanctions, should Russia make a move on Ukraine but experts on both sides continue to see limited scope for this, with Russia having little to gain from an escalation.
- This may continue for a few weeks before eventually fizzling out, but is undoubtedly worth monitoring closely.
- Intraday Sup1: 72.0654, sup2: 71.6864, Res1: 72.6768, Res2: 73.221
Russia 5Y CDS
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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.
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