We are watching the ECB (April 15th) this week to get a sense of whether this can be an event that supports the thesis that the Dollar can remain a bit weaker before it goes much stronger.
The Ruble is 3% stronger today and hovering around 52 Rub/USD. The currency is 25% stronger than it was on Feb 1 and 40% better than it was on near the closing level of mid-December when it spiked lower. The currency also is now trading below its 200mda for the first time since July 2014.
Emerging Money Daily Audio Call April 9 – On the call today we give insight into the dramatic move in the Russian Ruble and also give you thoughts on EM FX crosses we think are breaking correlations with the Dollar.
In Emerging Markets investing my seasoned old adage from experience is: “You make the most money when things go from ‘terrible to bad’ ” (i expect a footnote when you use this term because you will)
Emerging Money Daily Audio Call April 8 – Another breakout day in emerging markets as the broader index is propelled by China liquidity and improved tone in EM currency markets.
Emerging Money Daily Audio Call April 7 – Good morning. On today’s call we look at price action in commodities and EM currencies after a fantastic run.
Emerging Money Daily Audio Call April 6 – EM currencies were already well bid into Friday US labor data. After surprisingly weak NFP the follow through is strong today.
Markets kick off a big week as we dive into 2Q and earnings season, and digest a US Payroll number that was extraordinary in its weakness.
After the anemic non-Farm Payroll (NFP) in the USA with revisions to the two previous months, risk assets have an opportunity to break through recent resistance.