Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

USD/RUB continues downtrend after Russian manufacturing PMI signals strongest growth since July

The Russian Ruble continued to witness solid gains vs the US dollar after the Russian manufacturing sector signaled a solid improvement in operating conditions. Further, a stronger overall upturn was supported by accelerated growth in output and new orders.

The seasonally adjusted IHS Markit Russia Manufacturing Purchasing Managers’ Index (PMI) posted 52.0 in December, up from 51.5 in November. The latest index reading signaled solid growth across the Russian manufacturing sector and reached a five-month high. The latest PMI was in line with the average for 2017 as a whole.

Greater demand from new and existing clients supported a solid increase in new orders received by Russian goods producers. Furthermore, the rate of growth quickened and was the fastest since July. Export sales, however, contracted for the first time since August, albeit only marginally.

However, inflationary pressures remained muted in the context of the series history, with rates of both input price and charge inflation softening despite supplier constraints delaying delivery times further. The rate of inflation eased to a four-month low despite vendor performance deteriorating to the greatest extent since July 2016. Average prices charged also increased at a muted pace, with the rate of inflation softening to a five-month low.

"In line with recent cuts in interest rates by the Russian central bank, inflationary pressures remained muted in the context of the series history. Moreover, the pace of both input price and output charge inflation softened despite greater supplier delays," said Sian Jones, Economist at IHS Markit.

As of 08:30GMT, USD/RUB traded 0.32 percent lower at 57.55. Meanwhile, FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

April 20 19:00 UTC Released

USCattle Marketed

Actual

96 %

Forecast

95.9 %

Previous

102 %

April 20 19:00 UTC Released

USCattle On Feed

Actual

107 %

Forecast

107.5 %

Previous

109 %

January 31 00:00 UTC 115199115199m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 115199115199m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 127019127019m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 115199115199m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 127019127019m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 115199115199m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 115199115199m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 115199115199m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.