16 Feb 2015
USD/RUB flat around 63.30
FXStreet (Edinburgh) - The Russian ruble gave away its initial gains against the US dollar at the beginning of the week, with USD/RUB now returning to the 62.30 area.
USD/RUB weaker on Russia-Ukraine deal
The ruble initially managed to appreciate towards the 62.00 level today (or multi-week lows), extending its bid tone following the cease-fire deal struck last week between Russia and Ukraine and the ongoing recovery in crude oil prices. Data wise in Russia, Industrial Production expanded 0.9% on a year to January, down from the 3.9% gain from the previous month. Ahead in the week, Retail Sales are due tomorrow (1.0% exp.) and the Unemployment Rate on Wednesday (5.6% exp.).
USD/RUB key levels
As of writing the pair is flat at 63.35 with the next resistance at 67.48 (high Feb.12) ahead of 69.00 (high Feb.5). On the downside, a drop below 61.98 (low Feb.16) would expose 60.90 (low Jan.12).
USD/RUB weaker on Russia-Ukraine deal
The ruble initially managed to appreciate towards the 62.00 level today (or multi-week lows), extending its bid tone following the cease-fire deal struck last week between Russia and Ukraine and the ongoing recovery in crude oil prices. Data wise in Russia, Industrial Production expanded 0.9% on a year to January, down from the 3.9% gain from the previous month. Ahead in the week, Retail Sales are due tomorrow (1.0% exp.) and the Unemployment Rate on Wednesday (5.6% exp.).
USD/RUB key levels
As of writing the pair is flat at 63.35 with the next resistance at 67.48 (high Feb.12) ahead of 69.00 (high Feb.5). On the downside, a drop below 61.98 (low Feb.16) would expose 60.90 (low Jan.12).