30 Apr 2015
USD/RUB around 51.30 post-CBR
FXStreet (Edinburgh) - The Russian currency is appreciating vs. the greenback on Thursday, dragging USD/RUB to the 51.30/25 band.
USD/RUB softer on CBR decision
The pair has given away part of the initial gains after the Russian central bank lowered its benchmark rate by 150 bp in today’s meeting to 12.50% from 14.00%, vs. market expectations for a 100 bp cut.
The CBR expects consumer prices to slow at a faster pace than previously estimated, pointing to sub-8% levels on an annual basis by April 2016 and 4% in 2017. The central banks argued it remains ready to ease further as inflation slows.
USD/RUB significant levels
As of writing the pair is up 0.68% at 51.39 with the next resistance at 52.18 (high Apr.29) ahead of 52.60 (high Apr.28) and then 54.14 (high Apr.21). On the flip side, a breakdown of 50.60 (low Apr.29) would aim for 50.25 (low Apr.27) and finally 50.03 (low Apr.24).
USD/RUB softer on CBR decision
The pair has given away part of the initial gains after the Russian central bank lowered its benchmark rate by 150 bp in today’s meeting to 12.50% from 14.00%, vs. market expectations for a 100 bp cut.
The CBR expects consumer prices to slow at a faster pace than previously estimated, pointing to sub-8% levels on an annual basis by April 2016 and 4% in 2017. The central banks argued it remains ready to ease further as inflation slows.
USD/RUB significant levels
As of writing the pair is up 0.68% at 51.39 with the next resistance at 52.18 (high Apr.29) ahead of 52.60 (high Apr.28) and then 54.14 (high Apr.21). On the flip side, a breakdown of 50.60 (low Apr.29) would aim for 50.25 (low Apr.27) and finally 50.03 (low Apr.24).