Commerzbank sees Russia's oil-driven trade boost fading
Russia's June merchandise trade surplus rose to $12.5bn, up more than 50% year-on-year, but Commerzbank expects the oil-price support to fade.
USDRUB
Russia’s merchandise trade surplus reached $12.5bn in June, up more than 50% year-on-year, according to Commerzbank’s Tatha Ghose. The improvement was supported by higher oil prices and firmer Urals pricing.
Commerzbank nevertheless sees the oil-related trade boost fading.
Source: FXStreet Forex News