Russia FX/Rates Snapshot - July 25, 2019
This morning, the ruble has recovered, whereas the euro is a bit lower. FX markets are generally trading sideways ahead of the ECB and Turkish central bank decisions. For the ECB, the current consensus is that it will not lower rates today but will make its forward guidance more dovish, pointing to a cut in September and another one either later this year or next year, as well as a resumption of QE this autumn or next year. But we note the risk that the ECB will be more dovish - it may even deliver a 10 bp cut and signal that the next cut will be sooner than later and/or hint at larger QE amounts. If this happens, the euro could temporarily break strong support of 1.11.
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.