“The third catalyst is the Russian Central Bank decision to stop buying foreign currency for reserves until the end of this year. This decision was meant to calm markets down at a time when one dollar bought you more than 70 rubles,” according to Seeking Alpha.
Related: New NAFTA Agreement Lifts Leveraged Mexico ETF
Russian oil are an an attractive long-term play because of their low extraction costs globally, focus on domestic projects with a long reserve lifespan and growing dividend yields.
Last month, RUSL was Direxion’s best-performing leveraged bullish ETF. Interestingly, over the past 30 days, traders have been pulling money from RUSL and adding money to the bearish RUSS, according to issuer data.
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