USD/RUB sinks to 2016 lows near 62.00

The Russian Ruble has picked up extra pace on Monday, now sending USD/RUB to print fresh highs for the current year near 62.00 the figure.

USD/RUB up on Brent gains, data

RUB is trading on a firmer fashion today after gains in crude oil prices have lifted the barrel of Brent crude back above the critical $50.00 barrier, extending last week’s advance.

In addition, Russian GDP figures have come in flat during August, reverting the previous 0.8% contraction (revised lower from -0.6%). Further good news for the Russian economy has come in from the PMI side, improving to 51.1 for the last month.

Later in the NA session, USD will take centre stage in light of manufacturing gauges tracked by Markit and the ISM.

USD/RUB levels to watch

At the moment the pair is losing 0.92% at 62.25 and a break below 62.04 (low Nov.4 2015) would expose 60.70 (low Oct.9 2015) and then 52.95 (low Jun.18 2015). On the other hand, the next up barrier is located at 64.25 (high Sep.26) followed by 64.69 (55-day sma) and finally 65.46 (high Sep.13).