Russia FX/Rates Snapshot - March 22, 2021
Today, the focus will be a speech by Fed Chairman Jerome Powell, who could speak on the Fed's decision on the supplementary leverage ratio. We think his comments should help US Treasuries further stabilize. The dynamics of the Turkish lira, which has recovered 4% this morning and could continue to firm after what we think was an overdone slide, will be important. The ruble could also get a boost from elevated FX sales by Russian exporters ahead of tax payments this week. Against this backdrop, we would expect the local currency to strengthen again to 73.7, while the euro should stabilize around 1.19 against the dollar.
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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