Russia FX/Rates Snapshot - January 9, 2020
This morning the ruble held stable near 61.2. We expect it to test 61 later today, as exporters are probably selling decent volumes of FX ahead of dividend payments this month (Lukoil will pay R137 bln tomorrow). Moreover, risk-on sentiment could intensify when the US market opens. Investors will hear many Fed governors speaking today. Given recent upbeat US economic data, they could sound quite optimistic, but they are unlikely to signal potential hikes this year, as they committed strongly against doing so at the end of last 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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