Alex Bobrov
IHS Markit, an international research company, has recently revealed the results of the latest research, which reads that Russia’s Service PMI dropped all the way down to 53.5 points in August 2016 versus July’s 55.0 points.
The same kind of a negative tendency is reported to have been seen in the local Composite Manufacturing PMI. The index dropped from 53.5 points to 52.0 points over the same reporting period. We remind you that a value above 50 points indicates growth in the sector.
At the same time, the Russian manufacturing sector can see the rate of employment growth slowing down. This has been going on for the 2nd months in a row.
FOREX
Masterforex-V Academy experts report that the Russian Ruble is still weakening against the US Dollar. At this point, the currency pair is trading somewhere around 65.01 rubles per dollar, he experts report. The closest major level of support is the local low of 62.75. At the same time, the closest major levels of resistance are located around the local high of 67.15 and MF pivot 67.65.
Alex Bobrov
