Russia FX/Rates Snapshot - October 2, 2018
This morning, the ruble partially erased yesterday's gains. So far, 65 has proven to be a very strong support level for USD/RUB. However, later this month we expect the pair to finally sustain a move below this level and even go several rubles beyond thanks to a significant pickup in FX supply. As for global events today, investors will listen carefully to Fed Chairman Jerome Powell's speech at the annual NABE conference in Boston. USD/RUB may return to 65 but is unlikely to hold below this level, while EUR/USD may fall to 1.15 on Italian debt concerns.
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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