Russia FX/Rates Snapshot - September 20, 2021. Low Risk Appetite, Dollar Strength Creating Headwinds for Ruble
This morning, the dollar has extended its gains globally and risk appetite is dropping, while the ruble has opened lower at 73.15. Chinese stock indexes are down sharply this morning amid worries about a potential default by large local developer Evergrande. Inflation fears that are widespread across the globe, combined with the energy issues in Europe and the fact that the US Congress has not approved raising the US debt limit, have created a certain nervousness across global markets, especially with the Fed decision looming on Wednesday. Against this backdrop, the dollar, as a safe-haven asset, is likely to continue to appreciate, while the ruble looks set to extend its losses to 73.30. Today is quiet in terms of events and releases, with only ECB speakers of note.
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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