Russia FX/Rates Snapshot - February 18, 2019
This week may be even more supportive for risk assets. The US-China trade talks will continue in Washington and investors are hoping for more positive headlines. In addition, we may get further confirmation that major central banks have indeed turned more dovish. On Wednesday, the Fed will release the minutes from its latest meeting, at which it softened its stance significantly. The minutes are expected to confirm this and may also shed light on the prospects of a slower pace for balance sheet reduction and its expected longer-term size (possibly larger than previously), which will be discussed by Fed officials at a roundtable on Friday. As a result, we expect the dollar to fall against EM currencies. We see the ruble strengthening only at the end of the week, when exporters will likely intensify FX selling ahead of next week's tax payments.
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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