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Russian Ruble to Gain Back Some Ground
It' been a tough year for the Russian Ruble. The currency has lost almost 50% of its value against the US Dollar. Russia's invasion of Ukraine triggered western sanctions on its oil and banking sectors. But most importantly, oil fell by 1/3 this year. Over 50% of Russian budget is filled by oil&gas revenue. November was espeically bad with the Ruble losing 16 percent and the move going parabolic.
Such parabolic moves usually indicate that a top may be near. I expect oil prices to stabilize in De…
Such parabolic moves usually indicate that a top may be near. I expect oil prices to stabilize in De…
Russian Ruble Selloff to Continue
Investors sold the Russian Ruble on Friday after yet another military escalation by Russia in Ukraine. The currency pair hit a post-1998 high of 37.20 but the losses got trimmed during the end of trading.
I expect the rally in the USD/RUB to continue. The EU has given Russia a 1 week deadline to reverse course or face new sanctions. While I think that the Russian central bank will step in to stop the losses at some point, I don't think they can ultimately stop the Ruble from depreciating. On Mar…
I expect the rally in the USD/RUB to continue. The EU has given Russia a 1 week deadline to reverse course or face new sanctions. While I think that the Russian central bank will step in to stop the losses at some point, I don't think they can ultimately stop the Ruble from depreciating. On Mar…