USD/RUB: A weak path for the ruble in the short-term – Nordea
|Since the recovery in April, the RUB has been trading in a narrow range of 73.5-74 versus the USD and slightly below 80 vs. the EUR. Analysts at Nordea see the USD/RUB below 70 if oil prices increase. Credit Suisse is also pointing to strength in the pair with higher oil prices.
Key quotes
“Should external risks not materialise, we believe the RUB could reach levels of 72 against the USD and 80 against the EUR by the end of June.”
“A more pronounced recovery to levels below 70 against the USD may be possible in H2 2020 if we see a strong rebound in global economic activity boosting risk sentiment and oil prices.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.