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The Ruble rumble - panic rate hike shaking markets

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December 16, 2014 fx, fx award, fx crosses, fx forex, fx interbank markets, fx investing, fx market, fx markets, fx options, fx spot, fx strategy, fx trade, fx trade idea, fx traders, fx trading, fx volatility, fxmarkets, ioil, oil, oil 100 price, oil and gas, oil and gas engineer, oil asia, oil barrier, oil bounce, oil cargo, oil commodities, oil companies, oil company, oil consumer, oil demand, oil down, oil drop, oil egypt, oil gains, oil grilling, oil industry, oil inventories, oil iran, oil market, oil markets, oil news, oil outlook, oil price, oil prices, oil production, oil range, oil refinery, oil services sector, oil shutdown, oil spread, oil stockpiles, oil stocks, oil supplies, oil supply, oil trading, oil us shutdown, oil wealth, oilsupply, opec, opec intervention, opec meeting, opec news, opec oil price, opec price, opec production, rates, reutersforex, rub, ruble, ruble decline, rubusd, rusia, russ, russell, russell 1000, russell 2000, russia, russia bonds, russia crisis, russia crude, russia default, russia economy, russia fundamentals, russia growth, russia investment, russia militray forex market, russia oil, russia politics, russia rates, russia risk, russia ruble, russia safe haven flows, russia sanctions, russia stocks, russia ukraine, russian, russian central bank, russian currency, russian economy, russian equities, russian federation, russian gas, russian government, russian outflows, russian politics, russian ruble, russian shares, russian stocks
In a midnight move a panicky Russian central bank raised rates from 10.5% to 17%. The desperate bid to protect the Ruble from complete collapse has not entirely calmed nerves. What does this mean for investors? Head of FX Strategy John Hardy and Head of Commodity Strategy Ole Hansen discuss the causes, implications and what's next.