USD/RUB consolidative below 64.00

The Russian currency is trading in soft note vs. the greenback on Tuesday, with USD/RUB in a consolidative move below the 64.00 handle.

USD/RUB attention to oil, US data

The pair is so far reverting a negative 4-session streak around the 64.00 handle as the ongoing correction lower in crude oil prices has removed some tailwinds from RUB.

In fact, the barrel of Brent crude has deflated from yesterday’s fresh 17-month tops beyond the critical $55.00 mark amidst a generalized profit taking sentiment in light of the recent strong gains following the OPEC deal.

In the data space, Russian inflation figures tracked by the CPI rose 0.4% on a monthly basis in November and 5.8% over the last twelve months, both prints coming in below expectations.

In the US docket, October’s trade balance figures has widened to $42.6 billion from September’s $36.2 billion. Later in the session, US Factory Orders are expected to expand at a monthly 2.6% during October.

USD/RUB levels to watch

At the moment the pair is advancing 0.15% at 63.91 facing the next hurdle at 64.19 (100-day sma) followed by 64.34 (high Dec.2) and finally 64.54 (20-day sma). On the other hand, a breach of 63.57 (55-day sma) would expose 63.51 (low Dec.1) and then 63.25 (low Nov.9).