Russia FX/Rates Snapshot - March 5, 2021
The focus today will be the US jobs report for February. If it turns out stronger than expected (according to the Bloomberg consensus forecast, NFPs are expected to have grown by 200k in February) - which cannot be ruled out given the improving pandemic situation - then US Treasury yields could keep rising, with the US 10y consolidating near 1.60%, a level that it is approaching this morning. Under these conditions, the dollar should remain on the advance, while the ruble looks set to again approach 75, and the euro may test 1.19. On the other hand, if the jobs report disappoints, EM currencies will get a break and the ruble could return to 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.
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