Russia FX/Rates Snapshot - October 21, 2021. Ruble Likely to Be Stable Ahead of CBR Decision
Today's focus will be on the EU leaders' summit on the energy crisis. We anticipate calm trading, with the ruble likely to fluctuate around USD/RUB 70.9 during the day. The market awaits tomorrow's CBR rate decision and preliminary October PMIs for the eurozone and US. Should the CBR hike by 50 bps and exporters intensify FX sales ahead of next week's tax payments, we could see the ruble reach 70.5 tomorrow.
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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