This report outlines daily trading perspectives on emerging market currencies, highlighting the impact of a firm USD and shifting local monetary policies.
Key Takeaways
- 1.The NBH delivered a dovish message with slashed inflation forecasts, signaling consecutive summer rate cuts.
- 2.Turkish markets face pressure from a firm USD, with inflation prints in June identified as the next key catalyst for FX policy.
- 3.USDRUB likely hit a short-term top as onshore exporter flows are expected to influence the month-end dynamic.
Table of Contents
- RUB
- ZAR
- TRY
- PLN
- HUF
- CZK
- RON
- ILS
- KZT
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Authors
Laoise Ni Thighearnaigh
Securities
USDRUBUSD/TRYEURHUF
Themes
Dovish Monetary PolicyUS Dollar StrengthEM Carry Pressure
Regions
EuropeOtherRussiaSouth AfricaTurkey