Russia FX/Rates Snapshot - July 23, 2021. CBR's Hawkish Stance to Support Ruble
This morning, the ruble is stable at around 73.7, while the global backdrop remains positive. However, risks lurk in the July PMIs for the US and eurozone, which could point to a slowdown in growth. This would push the dollar higher. However, the ruble would be supported if the CBR does what it is expected to do and hikes rates by 100 bps and offers hawkish commentary.
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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