ridethepig | RUB Market Commentary 2020.03.02
Fed rate cuts taking full control of the FX board as virus disruptions start to fade - it's time to go shopping in G10 and EM FX and the intervention policies will provide some USD relief. Here looking for a rebound into previous ranges in USDRUB as a pro-cyclical currency.
A test of the previous range we were trading looks around the corner:
The spread of the virus is naturally impacting global growth, and tipping OPEC towards intervention in Oil as well as a number of CBs. Markets now price Fed to cut 75bps by June - similar story in Australia with RBA, UK with BOE and BOC in Canada. Tracking closely for risk to find a temporary floor this week.
As usual thanks for keeping the likes and comments coming .. jump into the conversation below with your views on RUB!
A test of the previous range we were trading looks around the corner:
The spread of the virus is naturally impacting global growth, and tipping OPEC towards intervention in Oil as well as a number of CBs. Markets now price Fed to cut 75bps by June - similar story in Australia with RBA, UK with BOE and BOC in Canada. Tracking closely for risk to find a temporary floor this week.
As usual thanks for keeping the likes and comments coming .. jump into the conversation below with your views on RUB!
Transaction en cours
