USD/RUB stays near session highs around 57.00


The Russian currency is losing ground vs. its American peer on Friday, lifting USD/RUB to the region of daily highs in the 57.00 neighbourhood.

USD/RUB supported near 56.90

Spot keeps the tight range at the end of the week, recovering part of the ground lost on Thursday amidst lack of traction in crude oil prices and the continuation of the up move in the greenback..

The barrel of the European reference Brent crude is struggling for direction in the $47.80 region, keeping the lower end of the weekly range and on its way to close the third consecutive week in the red territory.

In addition, the upbeat momentum stays well and sound around the buck, prompting the US Dollar Index to clinch its third straight session with gains and so far closing the with above the key 97.00 handle.

In the data space, Russian trade surplus shrunk to $8.0 billion in April from March’s 12.6 billion surplus.

Later in the session, crude oil should be in centre stage in light of the weekly report on US drilling activity by Baker Hughes.

USD/RUB levels to watch

At the moment the pair is up 0.14% at 56.98 and a surpass of 57.16 (high Jun.7) would aim for 57.64 (100-day sma) and then 58.11 (high May 18). On the other hand, the next support lines up at 56.75 (55-day sma) seconded by 56.70 (20-day sma) and finally 56.11 (low Jun.1).

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