13 Feb 2015
Crude oil will keep driving RUB prices – Danske Bank
FXStreet (Edinburgh) - Analysts at Danske Bank see the crude oil dynamics as the main driver behind the ruble’s price action.
Key Quotes
“Before the talks in Minsk began, the rouble market switched from ‘the oil mode’ into a ‘headline driven’ one”.
“Despite much positive news from the negotiations in Minsk, we do not see the new deal as a game changer for the rouble market and Russian assets in the medium term”.
“We consider that the geopolitical situation still remains fragile and believe the rouble continues to be mostly oil price driven, returning to 66-67 against the USD at Brent at USD56/bl”.
“Thus, we keep our view on the rouble unchanged, as there is no major support from Russia’s macro figures visible for 2015”.
Key Quotes
“Before the talks in Minsk began, the rouble market switched from ‘the oil mode’ into a ‘headline driven’ one”.
“Despite much positive news from the negotiations in Minsk, we do not see the new deal as a game changer for the rouble market and Russian assets in the medium term”.
“We consider that the geopolitical situation still remains fragile and believe the rouble continues to be mostly oil price driven, returning to 66-67 against the USD at Brent at USD56/bl”.
“Thus, we keep our view on the rouble unchanged, as there is no major support from Russia’s macro figures visible for 2015”.