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21 Sep 2015
EM's look to Chinese data - TDS
FXStreet (Guatemala) - Analysts at TD Securities explained that the EM markets are still trying to digest last week’s FOMC, which contained both good news and bad news.
Key Quotes:
"No Fed hike was clearly good news, but one of the reasons for no action, namely concerns about growth in China and other EM economies, was bad news.
The performance of EM FX over the past few days shows that the markets have taken the result of the FOMC as a slight net negative. Given the Fed’s concerns, in the near-term it is Chinese data that may well give EM markets some clearer direction."
Key Quotes:
"No Fed hike was clearly good news, but one of the reasons for no action, namely concerns about growth in China and other EM economies, was bad news.
The performance of EM FX over the past few days shows that the markets have taken the result of the FOMC as a slight net negative. Given the Fed’s concerns, in the near-term it is Chinese data that may well give EM markets some clearer direction."