Russia FX/Rates Snapshot - June 30, 2020
Markets will be focused on the coronavirus situation in the US for the next few days. US new case numbers have stabilized around 40k a day in recent days. Meanwhile, decent economic data continues to be reported, with US pending home sales for May beating expectations yesterday and Chinese June PMIs today pointing to a rather fast economic recovery. Against this backdrop, we expect the ruble to hold around 70 with the potential to advance as June economic data from major economies comes out (it should be decent); however, should the US coronavirus situation suddenly worsen, it could weaken to 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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