12 Jan 2015
Ruble falls over 1% on Russia downgrade
FXStreet (Mumbai) - The Russian ruble tumbled against the US dollar during European session, as traders digested Russia’s credit rating down by Fitch and also as oil prices continued its slide.
Currently, USD/RUB trades now at 62.73 levels, gaining 1.25% on the day, extending gains from the previous session. The ruble dropped to three-day lows against the US dollar after Fitch, the international ratings agency, slashed Russia’s credit rating to BBB-, leaving it just one step above junk. Fitch further warned over negative impacts of rising inflation risk and falling oil prices on the Russian currency.
Moreover, falling oil prices after Goldman Sachs lowered the oil price outlook, also contributed to the losses in the ruble.
USD/RUB Technical Levels
To the upside, the next resistance is located at 63.50 and above which it could extend gains to 63.87 levels. To the downside, immediate support might be located at 61.90 and below that at 60 levels.
Currently, USD/RUB trades now at 62.73 levels, gaining 1.25% on the day, extending gains from the previous session. The ruble dropped to three-day lows against the US dollar after Fitch, the international ratings agency, slashed Russia’s credit rating to BBB-, leaving it just one step above junk. Fitch further warned over negative impacts of rising inflation risk and falling oil prices on the Russian currency.
Moreover, falling oil prices after Goldman Sachs lowered the oil price outlook, also contributed to the losses in the ruble.
USD/RUB Technical Levels
To the upside, the next resistance is located at 63.50 and above which it could extend gains to 63.87 levels. To the downside, immediate support might be located at 61.90 and below that at 60 levels.