Russia FX/Rates Snapshot - March 12, 2021
In focus today will be the US PPI for February, which is expected to grow at 0.5% m-o-m, but given the strong growth observed in the price subindex of the PMI indexes, a stronger print could well be forthcoming. If this happens, the US 10y yield could approach 1.6% and the risk rally of recent days might give way to a correction. We think this could send EUR/USD down to 1.19 and USD/CNY up to 6.51. In such a scenario the ruble could find itself under pressure if local demand for FX stays high going into the weekend. We would then expect the local currency to retreat to around 74.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.