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U.S. personal income and spending rose less than expected in August

U.S. Consumer Confidence falls in September

Swedish economic sentiment indicator rises in November

Canadian employment likely declined in November, jobless rate to have risen to 9 pct

Reserve Bank of India likely to stand pat in December

Swiss franc likely to gradually depreciate against euro in coming months

U.S. weekly jobless claims unexpectedly decrease

U.S. Q3 economic growth unrevised in second estimate

U.S. vehicle sales fall again in November

Taiwanese money supply continues to see strong growth, CBC likely to keep rates on hold in December

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Australian economic growth recovers strongly in Q3 2020

U.S. durable goods orders sustain robust growth

Best Gold Stocks to Buy Now: AABB, GOLD, GDX

Bank Indonesia keeps key interest rate on hold at 3.75 pct

Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed

Australian private new capital expenditure likely fell further in Q3 2020 - ANZ

USD/RUB and oil prices display remarkable correlation

Tuesday, December 8, 2015 9:20 AM UTC

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CBR had adopted free float this year, and since then USD/RUB and oil prices dispaly remarkable correlation, which is not surprising. Energy products make up a huge share in Russian exports.

The slippage in oil prices are undoubtedly a bad news for the rouble.

Last few days events gave markets further reasons to sell oil.

  • OPEC  refrained from cutting the production levels
     
  • ECB disappointed the market expectations on QE 
     
  • Fed to begin the rate hiking cycle imminently.

"Imagine a situation in which oil prices plunge below 30 USD per barrel and we can easily see a situation in which USD-RUB trades at levels materially above current levels. Stay long USD-RUB", says Commerzbank in a research note.

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