This daily update provides tactical trade commentary across major emerging market currencies, focusing on USD/RUB, ZAR, TRY, PLN, HUF, and others in light of recent US payroll data.
Key Takeaways
- 1.Maintained long TRY position due to stable FX policy framework and low retail dollarization.
- 2.Trimmed long-standing ZAR shorts, waiting for better levels to rebuild.
- 3.Prefer HUF within CE3 region due to strong domestic fundamentals and carry support.
Table of Contents
- RUB
- ZAR
- TRY
- PLN
- HUF
- CZK
- RON
- ILS
- KZT
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Authors
Laoise Ni Thighearnaigh
Securities
USDRUB
Themes
EM Carry Trade PerformanceImpact of US exceptionalism
Regions
Asia PacificRussiaSouth AfricaTurkey