Russia FX/Rates Snapshot - September 9, 2021. Dovish ECB to Support Risk Sentiment, Ruble
The ruble is stable at around 73.2 this morning. In focus today will be the ECB meeting. A departure from the bank's ultra-accommodative policy is not likely today, particularly given the spread of the Delta strain in Germany and the fact that the EU's economic recovery has lagged the rebound in the US. The ECB will likely only comment on the prospects for cutting back on stimulus but without providing details. We thus think the euro could weaken to USD/EUR 1.176 today, but risk sentiment would be supported. We think the ruble could approach 73.0 to the dollar.
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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