RUSSIA: Kremlin Pushes Back On Trump's 'Paper Tiger' Claims
Sep-24 08:12
Speaking to Radio RBC, Kremlin spox Dmitry Peskov says that Russia's armed forces are not a "paper tiger", after US President Donald Trump dismissed the country as such in a lengthy Truth Social post on 23 September. Peskov claimed, "Russia is by no means a tiger. After all, Russia is more associated with a bear. There are no 'paper bears,' and Russia is a real bear."
- Trump's post, after he met Ukrainian President Volodymyr Zelenskyy on the sidelines of the UNGA, were some of the most pro-Kyiv comments from Trump to date, saying that Kyiv's forces can "win all of Ukraine back in its original form" and that the US would "continue to supply weapons to NATO for NATO to do what they want with them."
- While Peskov rarely directly criticises Trump's comments, former president, deputy chair of the Russian Security Council, and Kremlin 'attack dog' Dmitry Medvedev is more outspoken. Says Trump's comments show the US president is "living in an alternative reality" in which "Kyiv is winning, Russia is in tatters, and the economy of [Zelenskyy's] Ukraine is growing confidently thanks to its own resources."
- Says Trump's views will change in a couple of days, "The main thing is to radically change your point of view on a wide variety of issues more often. And everything will be fine. This is the essence of successful governance through social media."
- US Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov meet on the UNGA sidelines at ~12:00ET (17:00BST, 18:00CET).
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Aug-25 07:48
- There is still very limited movement on this UK bank holiday Monday with the biggest mover in the G10 space AUDJPY (versus the USD the all G10 currencies are within 0.3% of Friday's close).
- The main scheduled event of the day will be the release of the German IFO survey at 9:00BST while we will hear from the Fed's Logan but not until 20:15BST (and it is unclear whether she will speak on monetary policy).
- It will be the second half of the week that we will see the main economic releases of the week with the second estimate of US Q2 GDP due Thursday. Friday will be a very busy data day with Tokyo CPI and flash HICP releases from France, Spain, Italy and Germany as well as July PCE from the US and Q2 GDP from Canada.
- Outside of G10 FX, USDCNH has seen more notable moves with the USDCNY fixing at the lowest level since early November and our Asia team noting that CNH was also helped by China property related equities have been buoyed on headlines of easing Shanghai home buying curbs. See our technical analysts' views above as the cross approaches key support.
