Russia FX/Rates Snapshot - January 31, 2020
The ruble will likely remain volatile today. Risk sentiment could deteriorate late as investors may opt to hedge positions in risk assets going into the weekend amid fears of a repeat of last weekend, when new coronavirus cases spiked. Against this backdrop, we think the ruble could temporarily weaken above USD/RUB 63.5, but this would be a good level at which to buy it. There is also a good chance that the situation with the virus will begin to improve over the weekend and next week. It has been said that a person can be infected with no symptoms for up to two weeks - next Wednesday will be two weeks since the city of Wuhan was shut down, meaning by that time there should be more clarity about just how much the virus has spread. By then the number of new infections may start to decrease.
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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