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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.
EM FX
- USD keeps consolidating lower today, with the DXY index currently trading below the 96 level after rejecting the 97 resistance last week.
- To the exception of the Turkish Lira, which keeps depreciating following Erdogan’s firm view on interest rates, most EM currencies have been consolidating higher this week.
- ‘EM Carry’ MXN and ‘risk-on’ ZAR are the best performers so far, up 3.6% and 3%, respectively, against the US Dollar.
- RUB has also been trending higher this week (+2.4%) despite recent consolidation in oil prices.
- Oversold CEE currencies have been retracing higher following ‘hawkish’ NBH and positive surprise in Polish inflation (increasing odds for more aggressive hike next week).
- PLN is the best performing currency of the region (+2.1%), followed by HUF (+1.7% against USD).
Source: Bloomberg/MNI
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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