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Activity Light, Familiar Themes

EMERGING MARKETS
  • Majority of EM currencies remain rangebound so far Tuesday, with activity relatively light if futures are anything to go by. Options activity tracked via the DTCC also looks light, with CNY and INR volumes below average for this time of day.
  • ZAR is mid-table, with RUB the strongest and TRY the weakest among CEEMEA. USDZAR remains above 16.3906, the Jul 29 low. The recent recovery from this level means that the 50-day EMA continues to provide support - the average intersects at 16.4313.
  • Moving average studies still highlight a broader uptrend and recent weakness is considered corrective. A continuation higher would open 17.3060, the Jul 14 high. This level also represents the bull trigger. On the downside, a clear break of the 50-day EMA would highlight a bearish threat.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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