Russia FX/Rates Snapshot - April 11, 2019
The ruble gained 1%, posting the second best result among peers. Its outperformance was thanks to elevated nonresident demand for OFZs and a rising oil price. We expect these factors to remain in place to the end of the month as Russian inflation is decelerating, markets are starting to price in a CBR rate cut in June and there are fundamental reasons for oil move higher. Against this backdrop, the ruble could surpass its YTD high and head to 63 by the end of the month during the tax payment period, unless geopolitical risks pick up.
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.