With these most recent numbers, evidently, Chinese economic data is on a tear.
We’ve seen amazing turns in emerging market currencies over the last few sessions with gap-type moves in ZAR, BRL, PLN, and RUB, even as the dollar holds its ground.
The rich get richer and the poor get poorer. I’m not sure not sure you can expect this to change anytime soon. Fund flows into EM last week broke a three week downtrend with new inflows.
The ruble is off 1.5% in the past two days and has broken through support at the 200mda.
Here’s a quick recap and what to look forward to in Q2: