Ruble Rises First Time in Three Days After U.S. Payrolls Report

The ruble strengthened and Russian government bonds gained after U.S. payrolls climbed less than forecast in September, fueling demand for riskier assets amid speculation the Federal Reserve will maintain stimulus.

The ruble climbed 0.4 percent to 37.1104 against Bank Rossii’s target basket of dollars and euros by 6 p.m. in Moscow. The yield on government bonds due February 2027 fell six basis points, or 0.06 percentage point, to 7.54 percent, the lowest level in more than a month.

U.S. employers added 148,000 workers to payrolls in September, the Labor Department reported today, less than the 180,000 projected by economists surveyed by Bloomberg. The data comes after Federal Reserve Bank of Chicago President Charles Evans said yesterday the central bank will probably delay cutting monthly asset purchases until the U.S. economy and labor market show sustained improvement.

“Risk-on mood on the global markets got a strong support from the U.S. payrolls numbers and the ruble is no exception,” Vladimir Miklashevsky, a trading desk strategist at Danske Bank A/S (DANSKE) in Helsinki, said in e-mailed comments.

The ruble advanced 0.6 percent against the dollar to 31.7455 and strengthened 0.1 percent against the euro to 43.6700. Crude oil, Russia’s main export earner, was little changed at $109.73 a barrel in London.

To contact the reporter on this story: Vladimir Kuznetsov in Moscow at vkuznetsov2@bloomberg.net

To contact the editor responsible for this story: Wojciech Moskwa at wmoskwa@bloomberg.net

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