A daily Emerging Markets FX update providing tactical trade views and analysis on RUB, ZAR, TRY, and CE3 currencies following local macro data and geopolitical developments.
Key Takeaways
- 1.Russia's Ministry of Finance announced net purchases of 75-100 usd of hard currency, driving USD/RUB above 74.00.
- 2.Sentiment towards the Hungarian Forint (HUF) remains very bullish despite profit-taking, with EU funds expected by August.
- 3.Czech inflation came in significantly lower than expected at 2.1%, reducing the likelihood of a June interest rate hike and pushing EUR/CZK higher.
Table of Contents
- USD/RUB
- USD/ZAR
- USD/TRY
- PLN
- EUR/HUF
- EUR/CZK
- ILS
- Tenge
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Authors
Laoise Ni Thighearnaigh
Securities
USDRUBUSDZARUSDTRYEURHUFEURCZK
Themes
Central Bank Policy DivergenceGeopolitical Risk (US-Iran)
Regions
EuropeMiddle EastAfricaRussiaSouth AfricaTurkey