USD/RUB weaker around 65.20 ahead of US ISM

The Russian currency is posting decent gains vs. its American peer today, sending USD/RUB to the area of 65.20.

USD/RUB focus on oil, US data

The pair is retreating after two consecutive advances on Thursday, as the rally in the greenback seems to have slowed its pace while the barrel of Brent crude keeps trimming earlier losses and is now around $46.80.

Earlier in the morning, Russia’s Energy minister A.Novak said there is no need for an output freeze with crude prices around $50.00, leaving the door open for further discussions if prices resume the decline, all ahead of the informal OPEC meeting in Algiers at the end of the month.

In the US data space, USD will take centre stage later in light of August’s US ISM Manufacturing, expected to ease to 52.0 from 52.6.

USD/RUB levels to watch

At the moment the pair is losing 0.15% at 65.23 facing the next support at 64.24 (low Aug.26) followed by 63.41 (low Aug.18) and finally 62.75 (2016 low Jul.14). On the other hand, a break above 66.29 (high Jun.14) would open the door to 67.15 (high Jul.29) and then 68.85 (200-day sma).