EM's in a snapshot for this week - BBH

FXStreet (Guatemala) - Analysts at Brown Brothers Harriman noted the moments this week in the EM's.

Key Quotes:

"The Chinese yuan will be in the SDR.

"Brazil had one of the most important weeks of the year, and possibly of its history.

Russia enacted sanctions against Turkey, while Turkey got a deal from the EU.

Moody’s raised Russia’s credit-rating outlook to stable from negative."

EUR/GBP: temporarily bid but headwinds persist

EUR/GBP is currently trading at 0.7222 with a high of 0.7236 and a low of 0.7180.
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As expected OPEC disregards glut worry, maintains policy of pumping record volumes

At its meeting today in Vienna, OPEC maintained its policy of pumping near-record volumes of oil further adding to the already existing glut that has caused oil price to slum in the last one year. The group decided to increase its collective output ceiling to 31.5 million barrels per day (bpd) from the previous 30 million. Clearly, the decision did nothing to attend the growing supply side concern.
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