Russia FX/Rates Snapshot - February 24, 2021
This morning the ruble is trading around USD/RUB 74, while the situation in global markets is calm. In focus today will be the weekly US crude oil inventory report, which may show how much of an effect the recent cold spell had. Our commodity strategists expect oil prices to edge a bit lower today. However, the ruble may find support from FX selling by large Russian exporters, who will be raising rubles to pay taxes this week. We think the ruble will hold around the 74 mark 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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