Russia FX/Rates Snapshot - October 23, 2019
This morning, the ruble is down 0.2% with no clear reason. Nevertheless, as long as there is no significant deterioration in risk sentiment, we would expect USD/RUB to test 63.6 once again. Exporters are ramping up FX sales ahead of dividend and tax payments tomorrow and on Friday, while internationals will likely be buying OFZs today at the auctions (see below) and again later this week ahead of the CBR rate decision. Moreover, our commodity strategists expect oil to settle above $60/bbl today amid expectations of a good EIA inventory report.
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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