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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 has been firm in CEE currencies, with HUF being the best performing currency among the EM world so far this week, up 1.9% against the US Dollar (and 2.5% against the Euro).
- Latam currencies have also been performing strongly this week to the exception of BRL; CLP is the best performing currency in the region (second in EM after HUF), up 1.8% against the USD.
- Momentum on ‘risk-on’ ZAR has also been firm despite the recent spike in price volatility; the rand is up 1.4% against the greenback since Monday.
- At the bottom, we still find the TRY as political instability and surging inflation keeps weighing on the Lira. TRY is already down 3.1% this week.
- RUB has also weakened sharply this week despite the positive trend in oil prices as political tensions have been pushing the ruble tot its lowest level since April 2021. RUB is down 2.2% 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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