EM FX ended Friday on a week note and capped of another generally negative week. Worst performers last week were ARS, BRL, and TRY while the best were ZAR, RUB, and KRW. We remain negative on EM FX and look for losses to continue. US retail sales data Tuesday pose further downside risks to EM FX.
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Tag Archive: Argentina
Emerging Markets: What Changed
Korea policymakers have asked state-owned banks and companies to limit the issuance of global bonds. Malaysia's central bank hiked rates for the first time in four years. Pakistan’s central bank unexpectedly hiked rates for the first time in over four years. Moody’s raised its outlook on Russia’s Ba1 rating from stable to positive. Argentina’s central bank surprised markets with its second straight 75 bp rate cut.
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