Monex Europe top FX Week forecaster for Emerging Market Currencies

Monex Europe ranked last week as the best emerging market currency forecasters in the one-month FX Week rankings, again beating some of the main global banks and financial institutions.

Monex Europe was placed 1st, based on forecasts submitted last month on the outlook of currencies as the Brazilian real, the Russian ruble, the Indian rupee, the Chinese yuan and the Mexican peso. On February 1st, 2019 the firm’s forecast was:

For our analysis team, growth uncertainty in China would be the biggest risk for EM markets this year:

We are looking at developments in China to dictate prospects for EM as a whole, as the Fed is widely expected to remain in its current neutral stance. Any downturn in the Chinese economy would not only tarnish the recovering risk appetite in the market but also a major source of external demand for EM economies.

– Simon Harvey, FX Analyst at Monex Europe.