#USDRUB @ 77.7690 : Ruble to weaken medium-term due to declining current account surplus – Commerzbank
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]
Economists at Commerzbank see the USD/RUB pair at 80 by year-end and at 90 by December 2024.
“Russia’s capital account is closed for major hard currencies. The absence of capital flows means that the exchange rate does not perform its forward-looking role based on expectations – it only reflects day to day trade flows, most of which is energy trade.”
“Due to the sanctions, the RUB exchange rate now only reflects current account flows. Hence, the Ruble is likely to depreciate medium-term due to the declining current account surplus.”
“We expect the USD/RUB fixing to reach around 90.00 by the end of 2024.”
Source: Commerzbank Research
[/s2If]
Nehcap Expert Advisor
The NEHCAP MT4 EA is high quality professional trading system geared to generate returns without using GRID or martingales. Each trade has strict risk per trade parameter. The pairs under management include EURUSD, GBPUSD, AUDCAD, AUDNZD,GBPAUD, EURAUD, EURCAD, CHFJPY and many more.
The system is trading live: LIVE ACCOUNT TRACKING
You can run it free. Apply for a free trial and track our account. Buy the system or use profit share mechanism to generate returns on your MT4.
Join Our Telegram Group
