Russia FX/Rates Snapshot - August 29, 2019
This morning, a representative from China's commerce ministry said that the US and China were staying in touch on trade and still discussing a visit of the Chinese delegation to Washington for talks in September. We believe that whether these talks will be hold will be crucial for risk sentiment in the near term, as calling them off would send a clear negative signal to markets. The statement from China this morning brought a halt to the risk-off trading, which had been gaining momentum since yesterday evening, allowing US equity futures to rally 0.5%. EM currencies are lagging a bit, but unless contradictory comments emerge the risk-on mood could prevail today. In this case, the ruble could recover to USD/RUB 66.3 following its overreaction to negative events earlier this week.
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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