Asian Gold Stocks Rise as Bullion Rebounds on Softer Dollar 
Venezuela Nears Deal to Move $4 Billion in Gold to New York Fed 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Iran Economic Crisis Forces Afghan Families to Return Home 
Gold Rebounds Above $4,300 Despite Hawkish Fed Rate Hike 
Bessent, He Lifeng to Discuss AI Security and Trade in New York 
Yen Slides After BOJ Rate Hike as Dollar Holds Near Seven-Week High 
BOJ Raises Interest Rate to 31-Year High as Yen Weakens 
Asian Stocks Rise as Oil Falls, BOJ Rate Decision in Focus 
Supertanker Orders Surge as US-Iran War Reshapes Oil Trade 
Add as a preferred source on Google
The Russian economy is expected to stabilize after five consecutive quarters of deterioration, condition upon monthly GDP figures, being in line with estimates of -1.4 pct for Q1 on year, as released by the Ministry of Economic Development. Also, price movements in the global oil market would remain the key drivers for the largest oil exporting nation.
However, GDP data released today is unlikely to paint a positive picture amid a subdued market expectation of -2.0 pct for y/y GDP rates. Capital outflows are even lower than the current account surplus, inflation fell significantly over the last months and retail sales improved sharply in March, Commerzbank reported.
Besides, the end of the ailing recession would further signal that the Russian economy is back on track, with improvements in the real economy to extend further support.
"At the end a better economic performance would make rate cuts by the CBR not necessarily less likely but at least less extensive," Commerzbank said in a research note.
