Russia FX/Rates Snapshot - September 10, 2019
The ruble firmed a bit by the end of the day, but intraday USD/RUB temporarily broke below strong resistance of 65.5. It tried again this morning, but has since retreated as momentum proved insufficient, with global FX markets calm ahead of the ECB and Fed decisions this week and next. Today, there are few important events and we expect the calm to persist. That said, our commodity strategist sees upside for oil after the EIA monthly report this evening, so if Brent settles above $63/bbl, USD/RUB should fall toward 65.3.
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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