Russia FX/Rates Snapshot - November 8, 2018
This morning, the ruble has erased yesterday evening's losses, despite the fact that the dollar is stronger globally ahead of today's Fed decision. This FOMC meeting is not likely to deliver a change to the rate or significant amendments to the statement. Given the recent upbeat labor report, we expect the Fed to remain hawkish and hint at a rate hike in December, which is currently price by 80% of the market. Today, we expect the dollar to strengthen globally on a hawkish Fed, while the ruble should stay rather flat, which, with peer currencies declining against the dollar, marks an effective recovery for the local currency following the recent losses.
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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