Russia FX/Rates Snapshot - August 5, 2019
The ruble has strengthened 0.5% this morning, as fears about the recently announced US sanctions have started to recede. Nevertheless, we doubt the ruble will go much lower than 65 today, as the corporate FX offer is likely exhausted, and this week we expect several billion dollars to be bought due to the conversion of dividends. Some ruble appreciation is possible in the evening, as we expect the greenback to retreat globally on signals of more Fed rate cuts following the latest trade war developments. In particular, Lael Brainard will speak at 20:30 Moscow time.
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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