Russia FX/Rates Snapshot - January 15, 2020
There have been reports that China could increase its purchases of US goods and services by $100 bln per year as part of today's trade deal. If these reports are confirmed (even if the volumes are more modest) and concrete details are announced, the trade pact would likely be taken positively, as it would open the path for tariff reductions in the medium term. We thus believe that the signing of the deal will be supportive for global markets. Against this backdrop, the ruble could firm to 61 in the evening. Moreover, it should be supported throughout the day by what we expect to be strong foreign demand for OFZs at the Finance Ministry's first auction this 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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