18 Feb 2015
USD/RUB outlook remains bearish – Danske Bank
FXStreet (Edinburgh) - Swings in crude oil prices and geopolitical unease in Ukraine will remain the key drivers for the Russian ruble, suggested Vladimir Miklashevsky, Economist at Danske Bank.
Key Quotes
“We remain bearish on the outlook for the RUB but we now expect a slightly smaller depreciation than in previous forecasts due to the slight rebound in the oil price”.
“Indeed, it is all about the oil price and geopolitics at the moment as attempts to solve the Ukraine crisis are ongoing”.
“Volatility will depend on swings in oil and news from eastern Ukraine”.
“We do not see any support from fundamentals in 2015. We lower our 1M, 3M and 6M USD/RUB forecasts to 71, 77 and 85 from 75, 85 and 90, previously”.
Key Quotes
“We remain bearish on the outlook for the RUB but we now expect a slightly smaller depreciation than in previous forecasts due to the slight rebound in the oil price”.
“Indeed, it is all about the oil price and geopolitics at the moment as attempts to solve the Ukraine crisis are ongoing”.
“Volatility will depend on swings in oil and news from eastern Ukraine”.
“We do not see any support from fundamentals in 2015. We lower our 1M, 3M and 6M USD/RUB forecasts to 71, 77 and 85 from 75, 85 and 90, previously”.