Russia FX/Rates Snapshot - June 8, 2020
Over the weekend the new OPEC+ deal was formally approved and oil jumped up to $43/bbl. The ruble firmed to 68.4 and even at one point reached 68.12, its strongest level in recent months. Oil is the main catalyst for the ruble this morning - the strong increase in oil quotes may push the ruble through resistance at 68.2. Meanwhile, risk sentiment may stay strong today following Friday's upbeat jobs report, which is giving investors reason to believe that a V-shaped economic recovery is underway.
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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