This daily report discusses tactical outlooks for various emerging market currencies against a backdrop of Middle East geopolitical tensions and US economic data. It highlights specific views on RUB, ZAR, TRY, PLN, HUF, CZK, and ILS.
Key Takeaways
- 1.Emerging market FX remains sensitive to geopolitical tensions in the Middle East and US inflation data.
- 2.CNB expected to hike rates twice more in 2026, reaching a 4% terminal rate due to domestic wage growth.
Table of Contents
- USDRUB
- USDZAR
- USDTRY
- PLN
- EURHUF
- CNB Rate Hike Expectation
- ILS (Shekel)
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Authors
Laoise Ni Thighearnaigh
Securities
USDRUBUSDZAR
Themes
Geopolitical Risk
Regions
Middle EastRussiaSouth AfricaTurkey