Russia FX/Rates Snapshot - January 18, 2022. Elevated Oil Prices to Provide Support for Ruble
This morning, the local currency slightly weakened to 76.4 amid a rising dollar. The greenback is being driven by a steep increase in US Treasury yields - the 10y yield broke through the key resistance level of 1.80%, with Brent reaching $88/bbl amid tensions in the Middle East. We think the ruble should stabilize around 76 thanks to rising oil prices.
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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