MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI China Daily Summary: Friday, December 13

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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

Greenback Weakness Lends Support to Emerging Market FX Basket

EM FX
  • With the NY crossover coinciding with a fresh bout of USD sales, and associated pick up in activity, the USD Index has slipped to the worst levels of the session and edged through the 200-dma support of 104.41.
  • Lower US yields are also providing a tailwind to the emerging market currency complex with the likes of USDMXN and USDZAR erasing their initial gains on the day and sliding to fresh session lows in recent trade. Any pre-election jitters for either of these currencies appear to be being brushed aside amid the more stable risk backdrop.
  • Both the Hungarian Forint and the Brazilian real have risen roughly half a percent against the dollar and are outperforming EM peers. Support for USDBRL is seen at 5.1000, the 50-day EMA
  • Both Barclays and Credit Agricole pointed toward dollar selling into month-end, with the latter noting a more moderate signal given the moves in equity markets.
  • US Consumer confidence data the next highlight on the data calendar ahead of appearances from Fed's Kashkari, Cook & Daly - although few fresh signals on Fed policy are expected today.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.