Russia FX/Rates Snapshot - July 2, 2020
Yesterday in offshore trading, the ruble recovered to 70.7 amid a rise in oil prices and dollar weakness triggered by strong PMI data across the globe. Today, the ruble has managed to advance a bit further. We believe its recent losses were overdone and that the factors driving the decline were temporary in nature. Moreover, the calls for sanctions have not found support from the White House or Senate Republicans. Given the above, we expect a gradual de-escalation in geopolitical tensions, much like we have witnessed in the past, and see the ruble moving back to 70 in the coming days and 68 by the end of the month.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.