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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
- Selling pressure on HUF has been strong this week, with the forint down 2.5% against the USD ahead of the NBH meeting next week (Nov 16).
- USDHUF broke above its 316.50 resistance to test a local high at 319.30, its highest level since May 2020.
- The HUF has been the weakest performing currency among the EM world (even after TRY, which is down 2% against USD this week).
- PLN has also been performing weakly and is down 1.50% against the USD. USDPLN broke above its 4.0160 this week despite aggressive hikes from the NBP. Risk is skewed to the downside for PLN.
- On the other side, BRL and CLP have been the best performing currencies among the EM world, up 2.55% and 2.30%, respectively, against the USD.
Source: Bloomberg/MNI
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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