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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
- We have seen that the sharp consolidation in the USDCNY in the past ten days has led to a strong rebound in EM FX.
- Appetite for Latam currencies has been strong, with BRL being the top performer among the EM world (excl. RUB), up 5.5% against the US Dollar (since May 13).
- USDBRL fell below the 4.80 level this week; next key support to watch on the downside stands at 4.60.
- Interest for CEE currencies, which has also been sensitive to the Russia/Ukraine development, has been rising, with PLN being the best performing of the region, up 4.8% against the greenback.
- TRY remains the most vulnerable currency in the current environment amid rising political uncertainty (divergence with the West – NATO) and dovish CBRT.
- USDTRY broke above the 16 resistance in today’s trading session and is down 3.7% against the dollar (since May 13).
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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