Russia FX/Rates Snapshot - June 24, 2021. Base Year-End Key Rate Forecast Revised Higher on Hawkish CBR
The ruble has ticked up to 72.5 this morning, while the global market backdrop remains positive. It could be seeing support from FX sales by exporters, which face MET payments of R600 bln tomorrow. Against the current backdrop, the local currency, in our view, could strengthen to 72.3 today. The main event is a summit of EU leaders, while Fed speakers are on the docket today, with markets looking out for more hawkish rhetoric.
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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