Russia FX/Rates Snapshot - December 17, 2018
This morning, the dollar is holding steady around its highest level in a year and a half. We think that markets will likely keep trading sideways today ahead of Chinese leader Xi's speech tomorrow to mark the 40th anniversary of Chinese economic reforms. It is expected that, given the recent progress in US-China trade talks, he may strike a dovish tone and point to further measures to open Chinese markets that might satisfy US demands. In addition, he may announce more economic stimulus to support the economy, which seems to be losing momentum. If the speech turns out like this, it will likely spark some risk-on trading, which could be then enhanced by a Fed decision on Wednesday hinting at a more cautious approach and fewer hikes next year.
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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