Russia FX/Rates Snapshot - November 8, 2019
The Russian currency is underperforming this morning, down 0.5%, thus catching up with peers, which are moderately depreciating. Risk sentiment deteriorated more overnight after White House trade adviser Peter Navarro said that there was no agreement at this time to remove any of the existing tariffs and only President Trump could make such a decision. Thus, comments from Trump will be crucial for global markets in the upcoming days. If he confirms the tariff rollback today, the risk rally will resume, but if not, more profit taking in riskier assets could be seen ahead of the weekend. So, if positive news on tariffs does emerge, the ruble could trade sideways or a bit weaker today and strengthen only in the evening, when US trading gets underway.
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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