USD/RUB stabilizes below 64.00 ahead of US elections

The Russian currency is modestly lower vs. its American peer on Tuesday, taking USD/RUB to the 63.70/75 band for the time being.

USD/RUB attention to US elections

The pair is advancing for the fourth consecutive session so far, although a sustainable break above the 64.00 handle remains elusive despite the increasing buying interest around the buck and declining crude oil prices.

In fact, and in spite of today’s small gains, the barrel of Brent crude remains above 3-month lows in the $45.80 region, while the demand for the greenback has been boosted by recent developments across the pond, particularly around the FBI/Clinton theme.

In the very near term, spot should remain vigilant on the results from the US presidential elections, expected early in the European morning on Wednesday.

On the Russian data front, FX Reserves held by the CBR are published on Thursday ahead of Friday’s trade balance figures during September.

USD/RUB levels to watch

At the moment the pair is advancing 0.20% at 63.76 facing the next up barrier at 63.96 (high Nov.7) followed by 64.09 (100-day sma) and finally 65.46 (high Sep.13). On the downside, a break below 62.95 (20-day sma) would open the door to 61.85 (2016 low Oct.10) and then 60.70 (low Oct.9 2015).