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4 mentions found


☆ Emerging market currencies to claw back ground in 2024 as dollar fades: Reuters poll
  + stars: | 2023-11-08 | by ( Devayani Sathyan Vuyani Ndaba | Devayani Sathyan | Vuyani Ndaba | ) www.reuters.com   time to read: +3 min
After getting battered for most of 2023, emerging market (EM) currencies have made modest gains against the dollar after the Federal Reserve held interest rates steady last week and data suggested the U.S. economy might finally be slowing. That dollar weakening trend was likely to hold in the near-term as a majority of analysts in the Nov. 3-7 Reuters poll expected the dollar to trade lower by year-end. "So it's difficult to see the EM currencies recoup some of the sharp losses that we've seen in the last few months. Although EM currencies gained at the beginning of 2023 and investors brimmed with positivity after China's post-COVID reopening, economic performance in the world's second largest economy has been mostly underwhelming. "Easier Fed monetary policy should also take some pressure off select emerging market currencies in the second half of next year," noted Nick Bennenbroek, international economist at Wells Fargo.
Persons: We've, Mitul Kotecha, we've, it's, Nick Bennenbroek, Devayani Sathyan, Anant Chandak, Hari Kishan, Ross Finley, Mark Potter Organizations: Federal Reserve, Reuters, FX, Asia, Barclays, South Korean, Thomson Locations: BENGALURU, JOHANNESBURG, U.S, Brazilian, Wells Fargo
☆ EM currencies face uphill battle as dollar's supremacy continues: Reuters poll
  + stars: | 2023-09-07 | by ( Vivek Mishra Vuyani Ndaba | Vivek Mishra | Vuyani Ndaba | ) www.reuters.com   time to read: +4 min
That has put pressure on risky EM currencies, echoing the dynamics observed last year when the Fed began raising rates. In the Sept. 1-6 poll, almost all beaten-down emerging market currencies were forecast to move little, or trade modestly higher against the dollar in a year, with some making small gains in three months. The underperformance of China has probably been the biggest story holding back EM currencies." Earlier this year, many analysts expected China's reopening to boost the yuan and other EM currencies, especially those exporting commodities to the world's second-largest economy, but this scenario did not unfold as anticipated. Through the end of this year, we believe most EM Asia currencies can weaken," said Nick Bennenbroek, international economist at Wells Fargo.
Persons: Chris Turner, Nick Bennenbroek, Hugo Pienaar, Devayani Sathyan, Veronica Khongwir, Jonathan Cable, Sharon Singleton Organizations: Treasury, greenback, Fed, ING, Reserve Bank of India, Korean, Bureau for Economic Research, Thomson Locations: BENGALURU, JOHANNESBURG, China, Asia, Wells Fargo, Russian, South Africa, Bengaluru
☆ Dollar to rebound, accumulate safe-haven strength in 2023: Reuters poll
  + stars: | 2022-12-07 | by ( Indradip Ghosh | ) www.reuters.com   time to read: +4 min
BENGALURU, Dec 7 (Reuters) - The dollar will rebound against most currencies over the coming months, with the growing threat of recession in the U.S. and elsewhere keeping it firm in 2023 through safe-haven flows, according to market strategists polled by Reuters. Nearly two-thirds or 33 of 51 strategists who answered an additional question said the greater dollar risk over the coming month was that it would rebound rather than falling further. "We foresee volatility levels remaining high in the coming months and expect it is too early for USD bulls to fully capitulate." Most major central banks, including the Fed, are expected to end their tightening campaigns in early 2023. An overwhelming 80% majority, or 42 of 51 respondents, said there was not much scope for dollar upside based on monetary policy.
☆ Brazil to clinch sixth World Cup in Qatar - market analysts
  + stars: | 2022-11-11 | by ( Vuyani Ndaba Sarupya Ganguly | Vuyani Ndaba | Sarupya Ganguly | ) www.reuters.com   time to read: +4 min
[1/3] Soccer Football - FIFA World Cup Qatar 2022 Preview - Doha, Qatar - October 12, 2022 An image of Brazil's Neymar is seen on a building REUTERS/Hamad I Mohammed/FilesJOHANNESBURG/BENGALURU, Nov 11 (Reuters) - Brazil are tipped to claim the World Cup for the sixth time in the tournament that kicks off Nov. 20 in Qatar, according to a Reuters poll that last successfully predicted the champions in 2010. The global survey of 135 football-following market analysts worldwide agreed with the bookmakers that Brazil would triumph for the first time since 2002. Almost half of respondents expected Brazil to win while 30% were evenly split between France and Argentina. If France were to retain the trophy they would be the first to do so since Brazil in 1962. Reuters Poll- 2022 FIFA World CupQatar has reportedly spent around 220 billion dollars on hosting the tournament - almost fifteen times more than the second-most expensive one - but 41% of respondents said it would have no long-term economic impact.
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