Russia FX/Rates Snapshot - September 13, 2021. CBR Hikes by Less than Expected, but Makes Hawkish Comments
The ruble's weakening on Friday looked excessive. This morning, the local currency attempted to return to 73.0 but ran into headwinds from the globally strengthening dollar and a deterioration in market sentiment due to falling Chinese tech stocks (after local authorities demanded that Alipay be split up). Against this backdrop, the ruble looks left without support and we think it is likely to remain in a 73.1-73.2 range today.
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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