Russian rouble slips as US data boosts appetite for dollar assets

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The Russian rouble

MOSCOW: The Russian rouble eased on Wednesday as strong US industrial production data boosted the US dollar and investors’ confidence in dollar assets.

At 0743 GMT, the rouble was 0.2 percent weaker against the dollar at 65.45 and had lost 0.06 percent to trade at 75.66 versus the euro.

As data showed that US industrial production increased for a fourth straight month in September, the three main Wall Street indexes each rose by more than 2 percent.

“The main driver behind the short-term rouble movements is still investors’ attitude towards emerging markets,” said Mikhail Poddubsky, an analyst at Promsvyazbank.

The rouble is still underpinned by higher oil prices. Brent crude oil, a global benchmark for Russia’s main export, was up 0.28 percent at $81.64 a barrel.

Traders will be watching an auction later on Wednesday of 10 billion roubles ($153 million) worth of government bonds, known as OFZ’s.

Russian stock indexes were up.
The dollar-denominated RTS index was up 0.38 percent to 1,170.20 points. The rouble-based MOEX Russian index was 0.59 percent higher at 2,431.12 points.