4 factors driving the dollar/ruble higher

June 1, 2015 03:06 PM

2. Rumors of a "stop list" of Western officials

This weekend brought rumors that Russia has developed a new “stop list” that bans nearly 100 top European politicians from entering the Motherland. The list, which has not been officially confirmed by Russia’s foreign ministry, reportedly bans leaders from the UK, France, Germany, and other countries that have criticized Russia.

It’s not as if these politicians were regularly jetting off to spend their riches in Russia, so the rumored list won’t have a direct economic impact, but it does signal that relations between the Russian and EU remain frosty. With the European Council meeting to discuss whether to extend economic sanctions against Russia later this month, the chances of an international reprieve for Russia’s struggling economy are rapidly fading.

Image source: flickr

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About the Author

Senior Technical Analyst for FaradayResearch. Matt has actively traded various financial instruments including stocks, options, and forex since 2005. Each day, he creates research reports focusing on technical analysis of the forex, equity, and commodity markets. In his research, he utilizes candlestick patterns, classic technical indicators, and Fibonacci analysis to predict market moves. Weller is a Chartered Market Technician (CMT) and a member of the Market Technicians Association.