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EUR/RUB: Overshooting versus fundamentals – Danske Bank

Russia can manage better than other countries the corona crisis as maintains the inflation low, per Danske Bank. EUR/RUB is trading at 83.4285.

Key quotes

“In Russia, the economy can weather the storm, as inflation is low, and even after the 20-30% move in the rouble we are unlikely to see double-digit CPI.” 

“We also see EUR/RUB overshooting versus fundamentals, but we have lifted our 12M EUR/RUB forecast to 75.00 (from 60). Notably, it is likely to take a while before we see an end to the ongoing oil-price war.”

 

USD/CHF hits 1-1/2 week tops, around 0.9775 region amid notable USD demand

The USD/CHF pair edged higher through the early European session and climbed to over one-week tops, around the 0.9775 region in the last hour. The pai
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United Kingdom Markit Services PMI came in at 34.5 below forecasts (34.8) in March

United Kingdom Markit Services PMI came in at 34.5 below forecasts (34.8) in March
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