Russia FX/Rates Snapshot - July 29, 2020
Markets are awaiting the Fed decision. We doubt it will bring any surprises. We see the Fed trying to anchor expectations about rates by indicating that only if inflation were to significantly exceed its 2% target would it consider raising rates. In addition, it could expand monthly bond purchases from the current roughly $120 bln, citing a slowdown in the US economic recovery amid the second wave of Covid-19. This all would turn up pressure on the dollar globally. We think that in this case the euro could reach a new local high of 1.18 against the greenback and the ruble would stabilize around 72.
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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