Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
9 Jul 2019

USD/RUB trims initial gains, stays below 64.00

  • USD/RUB retreats from weekly tops near 64.00 (Monday).
  • Russia inflation figures came in below estimates in June.
  • Trade Balance figures next on the docket on Friday.

The Russian currency is alternating gains with losses vs. the greenback in an apathetic day, driving USD/RUB to the 63.70 region.

USD/RUB met resistance at 64.00

The lack of a clear direction in spot remains well in place so far this week, trading just below weekly highs in the 64.00 neighbourhood recorded on Monday.

RUB has already digested June’s inflation figures published on Monday, which showed consumer prices rose at an annualized 4.7% (from 5.1%) and came in flat from a month earlier.

Later in the week, the usual weekly report of FX Reserves held by the CBR coming up on Thursday followed by Trade Balance figures on Friday. on the US docket, all eyes will be on Powell’s testimony and the FOMC minutes on Wednesday ahead of CPI data on Thursday.

What to look for around RUB

Declining inflation appears supportive of the easing cycle already triggered by the central bank, while Governor Nabiulina expects the economy to reach neutral rates at some point in mid-2020. Furthermore, healthy economic fundamentals and the increasing demand for domestic debt (OFZ) have been sustaining the rising appetite for Russian assets. Additionally, RUB derives extra buying interest from the carry-trade, expected higher oil prices, record-high speculative positioning and diminishing chances of US sanctions against the country.

USD/RUB levels to watch

At the moment the pair is advancing 0.08% at 63.73 and faces the next hurdle at 63.99 (high Jul.8) seconded by 64.30 (55-day SMA) and then 65.78 (monthly high Jun.3). On the flip side, a breach of 63.39 (21-day SMA) would open the door for 62.49 (2019 low Jun.25) and finally 61.63 (monthly low Jul.11 2018).

Jul 9, 2019

USD/CAD clings to daily gains above 1.31 on broad USD strength

The USD/CAD pair posted modest daily gains on Monday and continued to push higher on Tuesday boosted by the broad-based USD strength. As of writing, t
Read more Previous
Jul 9, 2019

Canada Housing Starts s.a (YoY) came in at 245.7K, above forecasts (210K) in June

Canada Housing Starts s.a (YoY) came in at 245.7K, above forecasts (210K) in June
Read more Next