Russia FX/Rates Snapshot - September 26, 2018
The ruble also traded sideways yesterday, and we expect it to do so again today ahead of the Fed decision. Exporters will decrease FX sales as the tax period is ending, while internationals are continuing to buy hard currency. The overall ruble appreciation trend seems exhausted, unless oil prices keep rising, which we cannot rule out. Russian market watchers will also likely monitor the US House Financial Services Committee hearing titled, "Administration Goals for Major Sanctions Programs," beginning at 21:00 Moscow time. If a hawkish Fed spurs global dollar appreciation, USD/RUB may reach 66 this evening.
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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