Russia FX/Rates Snapshot - September 14, 2021. US CPI Report to Determine Dollar Dynamics
This morning, the ruble is still trading around 72.7. However, its dynamics later the day will depend on the US CPI report for August. If price growth remained elevated at around 0.5% m-o-m, it could fuel expectations of the Fed turning more hawkish, in which case the greenback should advance globally and the ruble will likely fall to 73. Still, it is possible that US price growth was subdued in August owing to the spread of the Delta strain. In this case, positive sentiment will prevail in global markets and the ruble could appreciate to 72.4.
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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