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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
- Lower core yields and firmer equities are providing a much more optimistic environment to start the week as news of the UK’s fiscal reversal has helped support a more benign short-term outlook for global risk sentiment.
- With G10 currencies experiencing strong gains against the greenback, sentiment has certainly filtered through to some emerging market currencies, notably the South African Rand, currently up 1.77% for the session.
- South Africa’s benchmark FTSE/JSE Africa All Share Index has climbed 2.1% with a Johannesburg index of banking stocks among the biggest beneficiaries, advancing as much 3.1%, the sharpest gain since July 7 as noted by Bloomberg.
- However, as noted earlier, a bullish trend remains in place for the pair and key short-term support remains further away at 17.5709, the Oct 4 low.
- With the Euro rising 0.7% to within close proximity of the 0.98 handle once more, conditions remain supportive for the Hungarian Forint to extend post-NBH action gains. Indeed, EURHUF is seen down a further 1% on Monday. The price action has strengthened bearish developments for the pair and the key short-term focus is on the 50-day EMA at 410.72.
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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