Russia FX/Rates Snapshot - August 6, 2019
Ruble volatility has picked up significantly, which is part of a global trend. This is clearly a negative factor for the ruble and will hamper it from recovering back below 65 until the situation calms. The situation could start to improve this evening if St Louis Fed Governor James Bullard, a known dove, signals that the Fed is ready to cut further and is not merely monitoring the situation. We think this is the most likely scenario, but we note that if this doesn't happen, risk-off will likely be reignited and the ruble could fall along with other EM currencies.
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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