Russia FX/Rates Snapshot - April 23, 2020
The local currency has managed a gain of 0.9% already this morning to 75.3 amid the double-digit growth in oil prices. Overall, a modest optimism seems to be prevailing across global markets, boosting EM currencies after some losses yesterday. Nevertheless, we think this optimism will dry up sooner rather than later against the backdrop of disappointing preliminary US and eurozone PMIs for April and new US initial jobless claims to be reported today, and we expect the ruble to return to 76.
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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