Emerging Markets

2 pieces.

Emerging Markets20 Aug 2026retrospective

Over the past five sessions the dollar's slide was absorbed almost entirely by Europe rather than the high-carry complex: EUR_USD +1.29%, USD_PLN -1.0

It matters because the classic weak-dollar reflex, EM carry outperformance, did not fire even with US high yield OAS at 2.75pp and gold up 3.85%, leaving open whether EM FX is being quietly

Emerging Markets11 Aug 2026retrospective

Commodity-linked EM currencies firmed over the past five sessions, with USD_MXN down 1.01% to 17.0837 and USD_ZAR down 1.10% to 16.2052 alongside an 1

It matters because the split between commodity EM strength and CEE weakness tests whether this is a genuine dollar-funding easing or simply a terms-of-trade trade that reverses if crude give