Three EMEA FX top trades
Earlier this week we published our FX Top Trades for 2014. Among our 10 top trades three were EMEA FX trades. In general we think that the need for further monetary easing, particularly in the Central and Eastern European countries, will put pressure on CEE currencies in the coming months. This is why we favour trades where we are short particularly the Polish zloty and the Czech koruna. On the other hand, the continued decline in oil prices is likely to be helpful to the Turkish lira - particularly against the euro. In contrast, the South African rand is likely to continue to suffer on the back of declining commodity prices.
Three monetary policy decisions - no major changes expected
Next week we have three monetary policy decisions. The Hungarian, Czech and Turkish central banks will all announce their monetary policy decisions on Tuesday. We do not expect any surprises compared with consensus expectations. That means a 20bp interest rate cut in Hungary, unchanged rates in Turkey and the Czech central bank likely to reaffirm its commitment to the 'floor' under EUR/CZK at 27.
To Read the Entire Report Please Click on the pdf File Below.
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EMEA Weekly: No Major Changes Expected
Published 12/13/2013, 06:23 AM
Updated 05/14/2017, 06:45 AM
EMEA Weekly: No Major Changes Expected
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Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
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