Positive Technical Signals From Rouble Markets

Russian debt and currency markets are looking increasingly bullish alongside gains in equities thus far through September. The continued rally across emerging market asset classes, alongside further macroeconomic signals that global demand conditions are improving, is likely to continue lifting investor risk appetite, which will prove particularly beneficial to Russian markets. Leading the way has been the rouble, which pushed to a four-month high of RUB36.41 versus the central bank's dollar-euro basket on September 24. The unit is now testing a key resistance level around RUB36.50/basket, with a strong close above this level on the weekly chart suggestive of a

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