USD/RUB tumbles below 63.00, session lows

The Russian ruble is now regaining some attention on Friday, with USD/RUB deflating to sub-63.00 levels ahead of US data.

USD/RUB focus on oil, US data

The pair seems to have found some comfort around the 63.00 handle for the time being, coming down from multi-day tops in the mid-63.00s (Thursday) and so far snapping three consecutive advances.

The now better tone around crude oil prices is seeing the barrel of Brent crude up almost 1% to the $52.40 area, lending extra wings to RUB and thus collaborating with the downside.

Ahead in the session, US Retail Sales and Consumer Sentiment will keep the attention around the buck, ahead of the speeches by Boston Fed E.Rosengren (voter, dovish) and Chair J.Yellen at the Boston Fed Conference.

In Russia, August’s trade surplus has come in below estimates and FX Reserves held by the CBR have come in at $395.4 billion vs. previous week’s $397.7 billion.

USD/RUB levels to watch

At the moment the pair is losing 0.13% at 62.95 and a break below 61.85 (2016 low Oct.10) would expose 60.70 (low Oct.9 2015) and then 48.79 (low May 13 2015). On the flip side, the next up barrier lines up at 63.49 (high Oct.13) followed by 64.25 (high Sep.26) and finally 64.50 (100-day sma).