Free Trial
OIL

Crude Eases Back After $3 Rally Yesterday

WTI TECHS

(X2) Corrective Bounce

BUNDS

Focus remains on UK markets

GOLD TECHS

Gains Highlight A Pause In The Downtrend

SOUTH AFRICA

Lower SARB Inflation Target Looks Increasingly Likely

EQUITY TECHS

E-MINI S&P (Z2): Short-Term Gains Considered Corrective

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Soft Inflation Print Gears Markets for More CBR Cuts in September

RUSSIA
  • Inflation data came in below expectations yesterday, with M/M CPI in negative territory for a second consecutive month. M/M CPI dropped 0.39% vs. Exp. -0.2%, while Y/Y slowed to 15.10% vs. Exp. 15.30%. The release should bolster the case for further easing from the CBR later this year, with the next rate decision due on September 16th.
  • Kommersant report that the drop of the price of the Urals grade of oil could prompt the budget balance to slip into deficit from the prior surplus due to the fall in the USD/RUB exchange rate.
  • Russian think tank, The Center for Macroeconomic Analysts and Short-Term Forecasting writes that all reasonable expectations for the Russian economy imply that sanctions pressure will persist for 10-15 years, according to a piece in RBC.
126 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • Inflation data came in below expectations yesterday, with M/M CPI in negative territory for a second consecutive month. M/M CPI dropped 0.39% vs. Exp. -0.2%, while Y/Y slowed to 15.10% vs. Exp. 15.30%. The release should bolster the case for further easing from the CBR later this year, with the next rate decision due on September 16th.
  • Kommersant report that the drop of the price of the Urals grade of oil could prompt the budget balance to slip into deficit from the prior surplus due to the fall in the USD/RUB exchange rate.
  • Russian think tank, The Center for Macroeconomic Analysts and Short-Term Forecasting writes that all reasonable expectations for the Russian economy imply that sanctions pressure will persist for 10-15 years, according to a piece in RBC.