Russia FX/Rates Snapshot - October 26, 2018
Today, investors will eye the preliminary estimate of US 3Q18 GDP, which is expected to grow by 3.3% Q-o-Q annualized. A strong GDP reading would likely boost US equities, which could also be supported by profit taking on short positions ahead of the weekend. We thus expect risk sentiment to improve later in the day. Against such a backdrop, we see the ruble possibly firming by about 0.5% (with USD/RUB falling to 65.3), supported by exporters, the CBR and a possible improvement in risk sentiment. However, as the tax period wraps up, next week the ruble will likely become more vulnerable to changes in global risk sentiment.
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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