Russia FX/Rates Snapshot - June 1, 2021. Finance Ministry likely to again offer 10y paper
Oil prices will likely continue to rise today, which would help the ruble hold at around USD/RUB 73.3 and would neutralize the elevated demand for FX that might remain in place today. Also in focus today will be manufacturing PMIs for May from leading economies. If the US print comes in better than expected, the dollar will strengthen globally and recoup yesterday's losses. We think in this case EUR/USD would weaken to 1.22.
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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