The MSCI EM Currency Index is having its best year since 2010, rising 5.6 percent, despite a 5 percent slide in the Bloomberg Commodity Index. The correlation between the two gauges almost halved in 2017 from last year, according to data compiled by Bloomberg. Given that global economies are still recovering and the tightening path for major central banks is seen as very slow, weak commodities prices, especially oil, are positive for some developing markets.
Source: Bloomberg Pro Terminal
Trader Bozhidar Arabadzhiev
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