Russia FX/Rates Snapshot - October 3, 2018
This morning, the dollar is down, while the euro is trimming recent losses on reports that Italy may reduce its budget deficit to 2% of GDP by 2021. However, the risk-on sentiment in the EM FX space was spoiled by the Turkish lira, which dropped 1% upon the release of Turkish inflation data showing that price growth had accelerated to 24.5% y-o-y in September, above the expected 21%. The ruble is virtually flat this morning, but given the higher oil prices and weaker greenback, we expect USD/RUB to retest 65, which has been a strong support level.
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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