Russia FX/Rates Snapshot - December 2, 2019
Investors will eye US manufacturing ISM PMI for November today, which could be rather upbeat, given the recent positive US data. Against this backdrop, we expect the dollar to advance globally, while the euro should fall below the important 1.10 level on mounting political risks, as the German ruling coalition could collapse after the Social Democrats, which are minority partners in the coalition, changed leadership and are demanding a shift to the left. Against this backdrop, the ruble will likely be at best flat today near 64.4. Given its recent underperformance, it has become attractive for buying, although we note that risks of a further drop remain.
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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