The start of 2020 has proven to be shaky for the RUB and volatility has increased amid coronavirus concerns. The currency that showed the best performance among EM throughout 2019 is now underperforming. Analysts at Nordea, however, forecast a probable recovery for the RUB. Key quotes “The RUB performance over the coming weeks will depend on the developments around the virus outbreak. We keep our view that when the market is more convinced that we are past the coronavirus peak, commodity currencies may slightly outperform the rest of EM FX.” “More monetary easing signalled by the CBR (we now expect two additional rate cuts in 2020) and lower net FX purchases give additional argument in favour of our RUB-bullish forecast that started to look stretched amid the coronavirus outbreak.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD: Oversold conditions FX Street 2 years The start of 2020 has proven to be shaky for the RUB and volatility has increased amid coronavirus concerns. The currency that showed the best performance among EM throughout 2019 is now underperforming. Analysts at Nordea, however, forecast a probable recovery for the RUB. Key quotes “The RUB performance over the coming weeks will depend on the developments around the virus outbreak. We keep our view that when the market is more convinced that we are past the coronavirus peak, commodity currencies may slightly outperform the rest of EM FX.” “More monetary easing signalled by the CBR (we now expect… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
