Russia FX/Rates Snapshot - March 25, 2021
Though Brent has fallen off yesterday's highs, it is still trading above its recent lows slightly beyond the $63/bbl mark. We do not think the ruble was able to fully react to the sharp uptick in crude prices yesterday, so we think it could be able to recover to 76 today. The spotlight will be on the EU leaders' summit, where the EU's relationship with Russia is on the agenda. If the geopolitical backdrop remains more or less stable, the ruble should be able to claw its way back to 76 and possibly move beyond this mark, further paring its losses from earlier 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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