Russia FX/Rates Snapshot - November 19, 2020
The Turkish central bank decision today will be key for the lira and EM currencies - the key rate could be hiked by 5 pp following recent reshuffles in the leadership at the central bank and finance ministry. In addition, EU leaders will videoconference today. The Covid situation will be discussed and, in particular, whether it is necessary and for how long to extend the current restrictions, taking into account some stabilization recently in Europe. If EU leaders note the stabilization of the virus situation and allow for the possibility of the restrictions being relaxed starting next year, this may boost by markets. Against this backdrop, we think the ruble would push below 76 to 75.7.
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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