Russian rouble, stocks slip as oil prices fall from 2019 highs

MOSCOW: The rouble eased slightly on Tuesday along with other emerging market currencies, tracing a fall in oil prices after U.S. President Donald Trump called on the Organization of the Petroleum Exporting Countries (OPEC) to rein in efforts to boost prices.

The rouble shed 0.2 percent to stand at 65.60 to the dollar  by 0800 GMT, heading away from its strongest level since Jan. 30 of 65.16 hit on Monday.

Against the euro, the rouble eased 0.1 percent to 74.46 .

The finance ministry will later in the day announce details of Wednesday's weekly auction of OFZ treasury bonds. Demand for such bonds is seen as a gauge of investors' sentiment towards Russia.

"The rouble will have reasons to firm: On Wednesday, the finance ministry will hold...OFZ auctions that have drawn increased interest recently," analysts at Otkritie Brokerage said in a note.

The rouble remains supported by month-end tax payments that usually prompt export-focused companies to convert their dollar revenues.

But gains in the rouble and other Russian assets are being capped by oil prices, which lost more than 3 percent from the previous session having earlier rallied on optimism about a U.S.-China trade deal.

Brent crude oil, a global benchmark for Russia's main export, was 0.2 percent lower at $64.62 a barrel, down from its 2019 high of $67.73 hit last week.

The dollar-denominated RTS index was down 0.7 percent to 1,193.6 points, while the rouble-based MOEX declined 0.3 percent to 2,486.6 points.