Free Trial

Muted EM markets ahead of the......>

EMERGING MARKETS
EMERGING MARKETS: Muted EM markets ahead of the Fed
-USD/CNH inched to the week's best levels at 7.0679 as Reuters reported that the
'phase one' agreement between the US and China may not be signed at November's
APEC meeting despite earlier reports suggesting the opposite. Nonetheless, the
moves were somewhat muted, keeping CNH within its recent range.
-ZAR saw some frenetic activity upon release of the SA government's plans for
beleaguered utility Eskom, with markets reacting negatively to the plan's lack
of coverage for debt restructuring. The tick lower in ZAR was quickly reversed,
however, keeping focus on Wednesday's mini-budget for more clarity.
-The Wednesday session sees data and central bank activity pick up, with Mexican
GDP, South Africa's mini-budget release and the Brazilian central bank rate
decision all due. Brazil are expected to cut rates by 50bps at Wednesday's
meeting.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.