Russia FX/Rates Snapshot - April 29, 2019
We think any gains for the ruble today will nevertheless come up short of cancelling out last week's losses. There are only two working days in Russia this week, and tomorrow investors may cut their long positions and increase their short positions on the ruble to hedge ahead of the long holiday. Moreover, there are important events scheduled for later this week when the Russian market will be closed. These include the FOMC meeting on Wednesday (the Fed may address calls by some in the market to cut rates given subdued inflation), final European PMIs on Thursday and the US labor report on Friday. In addition, on Wednesday several hearings regarding Russia are scheduled in the US Congress.
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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