HALISTER1: Ruble Selloff Looks Overdone, Should Gain on Oil: Sberbank CIB

Ruble Selloff Looks Overdone, Should Gain on Oil: Sberbank CIB

(Bloomberg) -- Most of recent selling was foreign speculators unwinding OW long RUB positions, Sberbank CIB analysts say in e-mailed note.
  • Expects RUB to strengthen to 65 vs USD on oil recovery amid push to agree on output freeze before OPEC meeting
  • NOTE: RUB strengthens 0.9% to 65.43 vs USD
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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