Russia FX/Rates Snapshot - January 29, 2021
The ruble has weakened slightly this morning to 76.3, along with EM currencies broadly, as after such a volatile week, investors may be hedging their positions ahead of the weekend. This is even more relevant for the ruble because of political risks. We think a test of the 76.5 level is possible today, but if, like yesterday, optimism prevails during the US session, the local currency should manage to gain a foothold around 76. The global market focus will be US data on personal spending and consumption and the PCE deflator for December.
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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