Wednesday, January 6, 2016

6/1/16: It's Christmas Eve... and Ruble is Getting Socks...

Anyone wondering about Ruble's next move from here:

 Source: @Schuldensuehner 

should take a look at the third chart here:

As oil stays around USD35 mark, the duration of slump will be weighing on Ruble, with oil/USDRUB spread compressing on re-valuations of the Russian budget and fiscal position. Current spread appears moderately optimistic to me...

As an aside, c Рождеством!

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