Russia FX/Rates Snapshot - November 15, 2018
US senators' comments that the Congress will not have enough time this year to consider more sanctions against Russia and a stabilization in oil prices led to sharp ruble appreciation early on yesterday. The local currency received a further boost from exporters' FX selling in the morning and demand from nonresidents following the US CPI print later in the session. The ruble has continued to appreciate this morning (it is up another 0.8% versus the dollar at 66.5 currently) alongside its EM peers, with further support coming from upcoming tax payments. If oil manages to hold above $65/bbl after the publication of the EIA weekly oil report, it might appreciate further.
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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