Russia FX/Rates Snapshot - December 6, 2021. Ruble Looks Set to Retreat on Negative Global Backdrop
The ruble has rebounded to 73.6 this morning despite the globally strong dollar. However, we do not expect the gains to continue, as the prevailing risk-off sentiment strengthened over the weekend, while what we would consider alarmist reports were published in the Western media ahead of the expected Putin-Biden call tomorrow. Against this backdrop, we believe the ruble could weaken to 74 or perhaps even more today.
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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