November 20, 2019 / 7:44 AM / 3 months ago

Russian rouble dips on weaker oil, trade war fears

MOSCOW, Nov 20 (Reuters) - The Russian rouble opened slightly lower on Wednesday, pressed by weaker oil prices and risks related to the ongoing U.S.-China trade war.

At 0717 GMT, the rouble was 0.1% weaker against the dollar at 63.90 and had lost 0.05% to trade at 70.72 versus the euro.

Brent crude oil, a global benchmark for Russia’s main export, was down 0.15% at $60.82 a barrel.

U.S. President Donald Trump threatened to slap fresh tariffs on Chinese goods if trade negotiations fail, pushing China’s yuan to a new two-week low against the dollar and pressuring Asian stock market.

Apart from following U.S.-China trade developments, the market is awaiting the release of minutes from the last meeting of the U.S. Federal Reserve where the central bank cut interest rates for the third time this year but signalled there would be no further reductions unless the economy takes a turn for the worse.

Russian stock indexes were down.

The dollar-denominated RTS index was down 0.6% to 1,442.9 points. The rouble-based MOEX Russian index was 0.5% lower at 2,927.9 points.

Shares in Sistema were up 1.29% after the company and the Russia-China Investment Fund announced plans to sell part of their stakes in Russian toy retailer Detsky Mir .

For Russian equities guide see

For Russian treasury bonds see

Reporting by Katya Golubkova; Editing by Mark Potter

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