Russia FX/Rates Snapshot - April 2, 2021
Today, the focus will be the US jobs report for March. If NFP additions turn out much stronger than the expected 660k - and the risks seem skewed to the upside given the effective US vaccination program, retreat of the cold weather seen in February and the new stimulus spending - the dollar would get a boost and could pare some of yesterday's losses. But the impact of this on the ruble should be offset by a possible further rise in oil prices. In addition, the geopolitical situation is relatively calm, as no fundamentally new events have taken place or statements been made. Thus, we think the ruble should manage to consolidate around 76 today.
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.
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