Russia FX/Rates Snapshot - July 29, 2021. Dollar Retreating Globally Amid Cautious Fed
This morning, the dollar continues to fall globally and the ruble has advanced to 73.25. We think it will extend the gains as optimism reigns in markets, and we see room for the ruble to strengthen to 73.0 today. However, a rebound in the dollar could ensue if US 2Q21 GDP growth comes in higher than the expected 8.5%. Meanwhile, we think yields on 5y and longer ruble government bonds could edge further down today.
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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