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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EMERGING MARKETS
- Mean reversion in the CEE FX market. PLN, CZK and HUF regain strength this month following a sharp depreciation in March.
- Most of the FX depreciation last month came from the worsening Covid situation, which eased market's speculation that CEE CBs could hike as early as H2 2021.
- In the recent policy meetings, CEE policymakers have made it clear that they will keep financial conditions as loose as possible to stimulate growth in the second semester, which has been revised to the downside due to the elevated restrictions imposed by the government in Q1.
- The chart below compares March changes in the FX market vs. April (up to date).
Source: Bloomberg/MNI
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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