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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
- Momentum on HUF remains firm as consolidation on CEE currencies continue; market is still digesting the upward revision in terminal rate. The 1W depo rate (effective rate) could reach up to 4.5% in early 2022, with ‘core’ policy rate expected to slowly converge towards 1W depo rate through H1 2022.
- HUF is up 3.3% against the USD and the Euro, respectively, since the start of the year.
- Risk-on ZAR has also been performing strongly since the beginning of the month despite the recent rise in price volatility; the rand is the second best performing currency, up 2.7% against the greenback.
- On the other hand, political uncertainty in addition to surging inflation keeps weighing on TRY, which is down 3.8% against the USD.
Source: Bloomberg
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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