Russia FX/Rates Snapshot - September 6, 2019
Today, investors are waiting for the US labor report. Given the solid ADP data, the nonfarm payrolls figure could be quite solid as well, which could cause the dollar to further strengthen against DM peers. As for EM currencies, positive jobs data could cause them to give back this morning's mild gains amid the still positive risk sentiment. However, later in the evening EM FX could find support from dovish comments from Fed Chairman Jerome Powell, who will likely confirm the Fed's intention to sustain the economic expansion by cutting rates but, given the strong US data, probably at a slower pace than some are expecting, i.e. by no more than 25 bps at both the upcoming meeting and the one after that.
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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