Russia FX/Rates Snapshot - October 11, 2021. Rising Commodity Prices Boosting Ruble
Oil prices have broken through $83/bbl Brent this morning and the ruble has appreciated slightly. Trading should be smooth today given the US holiday. We think the ruble has room to advance further to 71.5 amid the climbing commodity prices. The focus will be the Russian current account print for 3Q21, with the surplus likely to come in above expectations, which would be another point of support for the ruble.
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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