FxWirePro: USD/RUB pares oil induced losses, bounces of day's lows at 64.75
Thursday, October 1, 2015 11:40 AM UTC
- Russian rouble traded stronger early on Thursday, helped by higher oil prices and healthier risk appetite on global markets
- Brent crude oil, a global benchmark for Russia's main export, was up 1.1 percent at $48.9 a barrel
- USD/RUB hit session lows at 64.69, the pair has bounced off lows and is currently trading at 65.30
- Russian share indexes were mixed on Thursday, reflecting moves in the rouble
- Dollar-denominated RTS index was up 0.9 percent, to 796 points, while its rouble-based peer MICEX traded less than 0.1 percent lower at 1,641 points
- Oil prices are likely to continue to determine the direction of the rouble in the near future
- Immediate resistance for the pair is seen at cloud top by 66.11, while support on the downside is located at 55 EMA at 64.08