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AUD/USD lower; notable buyer at current levels though

AUD/USD down at .8858 from early .8875.  Just getting reports Russia buying at current levels. Maybe they’re building up a huge GBP/AUD possie :)

By Gerry Davies  || August 24, 2010 at 07:22 GMT
Category: All, Central Banks, Europe, Mkt Talk, Regions || Tags: , || 5 comments || Add comment
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Cable having a bit of a struggle

Stops have been tripped through 1.5400 and we’ve been as low as 1.5387 so far.  Presently at 1.5394.

Russia has been notable seller of cable this morning. Them and alot of others, as realisation dawns that the UK could be in for a rough old time going forward.  Go figure.

Some supports of note:

1.5350 (psychological)  1.5335 (July 21 high)  1.5322   (38.2 fibbo retracement 1.4228-1.5999)

Where’s the Reserve Bank of India when you need them.

By Gerry Davies  || August 24, 2010 at 07:02 GMT
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Russia sells EUR/USD

Above 1.2850. We’re back at 1.2840.

By Gerry Davies  || August 12, 2010 at 13:48 GMT
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Russia central bank: Not changing fx structure of reserves, including euro’s share – Ulyukayev

Nice vote of confidence for the beleaguered euro.  EUR/USD at 1.2278, up from session low 1.2253.

By Gerry Davies  || June 25, 2010 at 10:34 GMT
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Russia C.Bank says some reserves invested in Spanish bonds

Sees chances of default as close to zero.

By Gerry Davies  || June 7, 2010 at 08:16 GMT
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Russia C.Bank’s Ulyukayev sees euro’s position as reserve currency as stable “for years”

  • Says potential for appreciation of rouble mostly exhausted
By Gerry Davies  || June 2, 2010 at 10:22 GMT
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Russia buying EUR/USD in recent trade

We sit presently at 1.2185. Today has followed something of a familiar pattern.  Hedge funds continue to sell.  Sovereigns lend much-needed periodic support.

By Gerry Davies  || May 19, 2010 at 10:19 GMT
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Russia cuts euro share of currency reserves, boosts dollar – Interfax

Someone just sent me the headline.

Here are details

Russia cut the share of euros in its international currency reserves to 43.8% at end of 2009 from 47.5% a year earlier. Dollar share rose to 44.5% from 41.5%.  Pound rose to 10.4% from 9.7%.  Percentage of yen remained unchanged at 1.3%.

By Gerry Davies  || May 17, 2010 at 09:35 GMT
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Russia CBank shifts intervention level to 33.45 roubles/basket from 33.50 after buying around $700 mln – dealers

More dollars that could eventaully find themselves diversified into likes of euro, maybe even the good old loonie.

EUR/USD has rebounded from the 50’s back into 70’s, presently at 1.3377.

European stocks starting week in fine fettle (doing well) DAX up 1% so far. Will be lending EUR/USD much needed support.

By Gerry Davies  || April 26, 2010 at 07:08 GMT
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Whatever floats your rouble

Russian CB head Ignatyev says that Russia will continue to make the rouble exchange rate more flexible and it will be very close to a free-float within a year.

On a side note, the central banker says Russia has not yet begun to invest reserves in Canadian dollars. It announced its intention to do so some months ago.

By Jamie Coleman  || April 9, 2010 at 12:57 GMT
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