MNI: China To Ensure 5% GDP Amid Export Uncertainty: CASS's Yu

MNI: PBOC Net Drains CNY85.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1706 Fri; -1.30% Y/Y

MNI China Press Digest Feb 14: Fiscal Revenue, PBOC, Tax

MNI: Rise In US Consumer Delinquency Slowed In Q4 - NY Fed

MNI China Daily Summary: Thursday, February 13

US EIA:NAT GAS STORAGE -100 BCF TO 2,297 BCF FEB 07 WK

MNI: US JOBLESS CLAIMS -7K TO 213K IN FEB 08 WK

MNI: US JAN FINAL DEMAND PPI +0.4%, EX FOOD, ENERGY +0.3%

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

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

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EM FX: Greenback Strength Weighs on EMFX, But Moves Relatively Contained for Now

EM FX
BulletEM BulletEmerging Market News

The spike in the greenback following the US inflation data has unsurprisingly weighed on EM FX in the immediate aftermath of the release, with the higher-than-expected M/M core and supercore readings reflecting stronger pressures across all major sub-categories.

  • USD/CE3 pairs are between 0.3-0.4% higher at typing, completely reversing pre-data losses. Following outperformance earlier today, the Hungarian forint lags the rest of the EMEA FX basket at the margins, though both USDHUF and EURHUF remain below pre-Hungary CPI levels. Similarly, USDPLN and USDCZK remain below yesterday’s opening levels.
  • Despite weakness across the commodities space, gains for USDZAR are lagging that of the Bloomberg Dollar Index. Key short-term resistance remains some way off at 19.2296, the Jan 13 high.
115 words

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.

The spike in the greenback following the US inflation data has unsurprisingly weighed on EM FX in the immediate aftermath of the release, with the higher-than-expected M/M core and supercore readings reflecting stronger pressures across all major sub-categories.

  • USD/CE3 pairs are between 0.3-0.4% higher at typing, completely reversing pre-data losses. Following outperformance earlier today, the Hungarian forint lags the rest of the EMEA FX basket at the margins, though both USDHUF and EURHUF remain below pre-Hungary CPI levels. Similarly, USDPLN and USDCZK remain below yesterday’s opening levels.
  • Despite weakness across the commodities space, gains for USDZAR are lagging that of the Bloomberg Dollar Index. Key short-term resistance remains some way off at 19.2296, the Jan 13 high.