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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
- The discovery of a new variant has led to a significant correction in oil prices, with the front month WTI futures down over 10% since Thursday.
- WTI found support slightly below its 200DMA on Friday, but selling pressures could remain elevated in the near term as more and more countries impose travel bans to prevent the spread of the virus.
- Hence, further downside risk in oil prices could weigh on COP, RUB and MXN (vs. USD), which are still very sensitive to changes in oil prices.
- The table below shows the sensitivity of the major oil producers (>0.5mil bpd) EM FX to changes in oil prices (Brent).
Source: Bloomberg/MNI calculations
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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