24 Nov 2015
EM's on an uncertain footing - BBH
FXStreet (Guatemala) - Analysts at Brown Brothers Harriman noted that the EM started the week on an uncertain footing.
Key Quotes:
"Commodity prices were off sharply until comments by Saudi Arabia lifted them, reversing the trend in commodity-sensitive assets. The dollar is also back on the rise, pressuring EM FX even as a December FED hike is now just about fully priced in.
In South America, the victory of the market-friendly candidate in Argentina and better political winds in Brazil have also given the region some hope for the near term, which could help sentiment more broadly."
Key Quotes:
"Commodity prices were off sharply until comments by Saudi Arabia lifted them, reversing the trend in commodity-sensitive assets. The dollar is also back on the rise, pressuring EM FX even as a December FED hike is now just about fully priced in.
In South America, the victory of the market-friendly candidate in Argentina and better political winds in Brazil have also given the region some hope for the near term, which could help sentiment more broadly."