x
Visit our new Mobile Website next time you access NetDania with your mobile device
Netdania News
USD/RUB likely to rise towards 70.0 Mark over coming quarter, says Commerzbank

Source FxWire Pro Friday, 7 Dec, 2018 09:33:34 GMT
Back

The USD/RUB currency pair is expected to rise towards the 70.00 mark over the coming quarter, with further likelihood of a 25 basis points hike from the Central Bank of Russia (CBR) at its December meeting, but this could be the last in this cycle, according to the latest research report from Commerzbank.

The OPEC+ group is still negotiating an agreement among members to cut oil production and support the oil price. The final details are yet to be agreed, but in case output is cut back, this will be negative for the Russian economy.

Russian growth had begun to perk up in Q3 after OPEC+ had agreed to increase output and Russia began to produce 200k bbl/day more (this, however, only partly made up for a 300k bbl/day production cut implemented since last year).

Unfortunately, the acceleration of growth during Q3 was offset by a setback in the agricultural sector and the economy lost its chance to get on a faster growth path. Now, the boost from that earlier agreement is set to be reversed.

Further, the price of oil is unlikely to rise back to the Q3 level regardless of such output cut – which means that both price and quantity will be lower over the coming quarter, which will depress the economy, the report added.

"Our 2018 growth forecast for Russia is a sub-consensus 1.5 percent vs. official forecasts in the 2 percent range. One potential positive from the lower oil price, though, is that inflation, which was beginning to approach the 4 percent target may begin to cool off (yesterday's November CPI data showed 3.8 percent headline and 3.4 percent core inflation)," Commerzbank further commented.

Source: FxWire Pro - Commentary
© FxWire Pro 2018. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.
Find a Top Broker
Global
Forex
24532.35
70.05
0.29%
2655.84
14.02
0.53%
6743.45
50.85
0.76%
3356.00
-76.88
-2.24%
10820.47
100.14
0.93%
21394.50
74
0.35%
2594.09
9.51
0.37%
6829.95
60.1
0.89%
25697.00
-18
-0.07%
5618.10
47.7
0.86%
10549.15
60.7
0.58%
1244.25
0.08
0.01%
60.81
0.95
1.59%
1.13242
-0.0032
-0.28%
113.424
0.228
0.20%
1.25361
-0.0023
-0.19%
0.72062
0.0015
0.21%
1.34166
0.0019
0.14%
128.40000
-0.147
-0.11%
0.90329
-0.0008
-0.09%
142.18700
0.014
0.01%
0.99218
0.0026
0.26%
1.12356
-0.0002
-0.02%
0.68834
0.001
0.14%
97.45100
0.259
0.27%
Top Gainers
Name
Last
+/-
%
1.58
0.49
44.76%
1.86
0.12
6.64%
0.89
0.19
27.16%
0.77
0.16
26.37%
3.42
0.70
25.46%
0.83
0.14
20.59%
1.47
0.24
19.44%
1.47
0.21
16.67%
1.27
0.17
15.46%
6.20
0.77
14.18%
Top Losers
Name
Last
+/-
%
0.00
0.00
-33.33%
18.85
-7.12
-27.44%
1.39
-0.39
-21.91%
0.64
-0.15
-18.99%
3.25
-0.76
-18.89%
3.05
-0.70
-18.67%
0.54
-0.11
-16.90%
0.86
-0.18
-17.30%
16.16
-2.88
-15.11%
5.43
-0.95
-14.89%
NetDania does not guarantee the accuracy of data contained on this website, nor do we guarantee that data is real-time. Data on this website may be provided from OTC market sources and market makers, and not necessarily from exchanges. The provided price data is indicative and may not be appropriate for trading or decision making purposes. NetDania does not assume any responsibility for any losses incurred from the use of the provided data.
NetDania does not endorse or promote any broker or financial service. NetDania is a pure technology provider offering its software with broker integration. Any user of NetDania software must be an existing client of one of our supported brokers. NetDania showcases NetDania technology for the purpose of demonstrating it towards brokers and other institutions looking to white label the technology on a software subscription contract. No financial services are offered, promoted or recommended. NetDania is compensated as a technology provider by its institutional clients including its integrated brokers. It is the sole responsibility of any recipient employing or requesting an offering to comply with all applicable legislation or regulation affecting it.

Persons or entities including approved brokers not belonging to the NetDania Group may advertise on the NetDania and its Group’s websites, through links, banners or otherwise. We have not taken any steps to verify the accuracy, quality or reliability of any products, information or services provided by third parties that have links on our website. We accordingly provide no warranties with regard to and disclaim responsibility for any such products, information or services and exclude all liability in this regard to the fullest extent permitted by relevant laws and regulations. If a user of the NetDania Group’s websites decides to act upon any such advertising, such user does so entirely at its own risk.

NetDania’s website may be accessed worldwide. The Information provided on its website is however only intended for use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. None of the offerings services referred to on this website are available to recipients residing in countries where the provision of such offerings would constitute a violation of mandatory applicable legislation or regulations. It is the sole responsibility of any recipient employing or requesting an offering to comply with all applicable legislation or regulation.

HIGH RISK INVESTMENT WARNING:
End-users of the NetDania software that make use of the trading integration features as direct clients of integrated brokers, should be aware of the level of risk carried by trading in financial markets. Trading foreign exchange and or other financial instruments on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or more of your initial investment, and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from your broker and or an independent financial advisor if you have any doubts. Anyone opening a live trading account needs to adhere to the laws of their local country as such laws may differ from country to country.
NetDania expressly disclaims any liability for any lost principal or profits which without limitation may arise directly or indirectly from the use of or reliance on information on our website or the use of our software with broker integration.
Copyright © 1998 -2018 NetDania Creations ApS, Kronprinsessegade 36, 1st floor DK-1306 Copenhagen K, Denmark, +4536980409, Contact NetDania by email, CVR-nr.27976670 Terms And Conditions and Privacy Policy