Russia FX/Rates Snapshot - October 13, 2021. Hawkish Fed and Accelerating Inflation Pushing Dollar Higher
This morning, the dollar is weaker against DM currencies. However, if UST yields start rising again, the dollar will firm globally. This is entirely possible following today's release of the US inflation report for September. Given the strong rise in commodity prices, the print could well come in above the 0.3% forecast. Meanwhile, the minutes from the most recent Fed meeting could shed some light on the plans for tapering. On the whole, we think the ruble will weaken slightly to USD/RUB 72, while the euro will retreat to 1.15.
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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