Russia FX/Rates Snapshot - August 30, 2021. Ruble Looks Set to Extend Gains Amid Upbeat Global Backdrop
The ruble has opened slightly lower this morning, correcting after Friday's rally. However, we see the positive momentum prevailing across markets, as Powell's speech means that the Fed's stance remains quite flexible and cautious, which should support demand for risk assets today. Against this backdrop, we think the ruble should be able to advance to USD/RUB 73.2. Overall, trading will be calm, as today is a bank holiday in the UK and important events or releases are not on the radar.
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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