Gold Prices Hold Near $4,500 as Fed Rate Hike Bets Ease 
Asian Currencies Rise as Yen Surges on Fed Rate Outlook 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
OPEC+ Expected to Hold October Oil Output Steady 
China to Inject $45 Billion Into State Financial Institutions 
U.S. Payrolls Seen Rebounding in August as Labor Market Stays Soft 
JPMorgan Sees ECB Raising Rates to 2.75% in December 
Asian Stocks Rally as Fed Rate Hike Fears Ease 
Citi Sees Signs of Shift in Global Currency Policy 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
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Just like analyst and economists expected, Russian economy faced sharp second quarter contraction in 2015, given weakness in commodities, especially energy prices, its major exports and severe weakness in Rouble. Sanctions imposed by Western nations have also taken their toll on Russian economy.
According to second reading from Federal statistics service Moscow, Russian economy contracted by 4.6% in second quarter.
Russian Rouble is currently trading at 68.7 against Dollar, down more than 85% in last 12 months.
Weak Rouble has also increased debt burden over Russia's corporate sector, who have amassed short term foreign currency loan especially after financial crisis.
On a separate note, trading in equities, currencies, derivatives have halted in Russia, due to major break down in network system. As of now, Russian exchange is trying to resume trading in back up system.
Russia might face further volatilities and Rouble depreciation if commodity prices fail to recover going ahead.
