Russia FX/Rates Snapshot - April 24, 2020
The dollar has extended its rally this morning, strengthening moderately, while a sober pessimism is prevailing on global markets. The ruble is trading just below 75, where we expect it to remain for the rest of the day. The main event today is the CBR's rate decision, though we doubt it will affect the ruble - only if the CBR cuts the key rate by more than 50 bps would we expect some weakening. However, next week we see the risk of oil prices starting to fall again, which would pressure the local currency.
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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