Russia FX/Rates Snapshot - October 24, 2018
The market is in risk-off mood again this morning. The euro is down 0.4% following a relatively weak PMI reading in Germany. Moreover, Italian fiscal problems are still weighing on it. Yesterday, the European Commission rejected Italy's draft budget for 2019. The Italian authorities now have three weeks to amend it, and if they don't they could face sanctions from the commission. This means the euro will likely remain pressured in the next few weeks. The dollar could strengthen further today should the US PMI turn out strong. The ruble has eased 0.2% this morning but we expect it to erase this loss later, as we still anticipate exporters selling decent volumes of hard currency ahead of dividend and tax payments. Tomorrow, R630 bln in MET is due, while on Friday Tatneft is scheduled to pay R70 bln in interim dividends.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.