Russia FX/Rates Snapshot - October 15, 2020
We expect risk assets to face headwinds today from rising Covid-19 cases in Europe and the gradual reinstatement of quarantine measures - which will be discussed at the EU leaders summit in addition to the EU-UK trade deal. Thus, we see the ruble slipping to 78 early in the day. However, oil prices are trading around a relatively high $43/bbl following an API-reported decrease in oil and oil product stocks in the US, and if today's EIA data confirms this and oil prices gain, we believe the ruble can make its way back to 77.6 by the evening.
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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