Russia FX/Rates Snapshot - May 25, 2020
Over the weekend, US-China tensions escalated further amid renewed protests in Hong Kong. Talk of a new cold war has emerged. The PBoC lowered its fix for the yuan to 7.1209, the weakest level since 2007. Global markets are currently calm - the US-China tension is long since priced in, while no concrete actions have yet been taken. Also contributing to this is the fact that today is a holiday in the US and UK. The ruble has even managed to firm slightly to 71.4 and we expect it to trade in a narrow range today. The key macro release is the Ifo German business climate index. Investors will be looking to see if the easing of quarantines measures will have had any effect.
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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