CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CEEMEA FX Price Signal Summary: USDRUB Appears Vulnerable

EMERGING MARKETS
  • The EURHUF outlook remains bullish following the recovery from 360.99, the Dec 2 low. The move higher suggests scope for a move towards key resistance at 371.99, Nov 23 high where a break would confirm a resumption of the uptrend. Key support and the bear trigger is at 360.99, low Dec 2.
  • The short-term outlook in EURPLN still appears bearish. This follows recent strong selling pressure that resulted in a break of the 20- and 50-day EMAs. The move lower has exposed 4.5699, the Nov 3 low. Initial firm resistance is 4.6589, the Dec 1 high. A break would ease the bearish threat.
  • USDZAR bullish trend conditions remain in place. The recent move lower is considered corrective. A deeper sell-off however would signal scope for an extension towards 15.4285, the 50-day EMA. On the upside, the bull trigger is at 16.3668, the Nov 26 high. A break would confirm a resumption of the uptrend and open 16.3815, 50.0% of the downleg between Mar 2020 - Jun 2021.
  • USDTRY traded higher today. The recent consolidation has taken on the appearance of a bull flag and the pattern reinforces underlying bullish conditions with the path of least resistance remaining up. The 14.00 handle remains exposed. The 20-day EMA at 12.4714 is an initial support.
  • USDRUB remains below recent highs. The current bear cycle remains remains in play as price moves lower and attention is on the 50-day EMA at 73.0220. This EMA represents an important support and a clear break would suggest scope for a deeper pullback. On the upside, a break of 74.5329, the Dec 7 high, would signal a reversal and expose the bull trigger at 75.9190, Nov 26 high.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

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.