Russia FX/Rates Snapshot - November 2, 2018
This morning, risk-on has prevailed once again, and the dollar has weakened further globally. Investors will eye the US labor report due at 15:30 Moscow time, which is expected to be rather strong and point to decent wage growth, which would keep the Fed on track for rate hikes once a quarter. If the report beats expectations, the dollar would likely recover. As for the trade war optimism, we think that it could prove short-lived, as Trump may have eased his rhetoric ahead of the US midterm elections on November 6 and might toughen it afterward. The ruble may weaken today, especially if the dollar rebounds, since investors in Russia may be cautious ahead of the long weekend (November 5 is a holiday in Russia) and the US elections.
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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