Russia FX/Rates Snapshot - June 25, 2019
We think the ruble is somewhat overvalued right now, though it has some short-term potential to appreciate further given that we could see some residual tax-related FX selling today, while the greenback could retreat globally. USD/RUB could fall to its resistance level of 62.2. At that level it would be quite attractive for buying given the lack of further exporter support, significant anticipated dividend-related FX buying next week and ahead of the G20 summit later this week.
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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