Russia FX/Rates Snapshot - November 21, 2019
This morning, risk sentiment improved slightly after a Chinese Commerce Ministry official said that "rumors" (we assume he meant talk of a delay in the deal to next year) were inaccurate. We think the positive sentiment is unlikely to last, as US President Trump is expected to sign the Hong Kong bill. Chinese retaliation could spur further risk-off as it would increase doubts over a resolution to the trade war. Once again we would expect the ruble to hold near 63.8 if trade concerns spark a selloff, as exporters would likely step in and increase FX sales once again.
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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