EM FX closed the week on a soft note. For the week as a whole, best performers were MYR, PLN, and COP, while the worst were BRL, ZAR, and INR. US inflation and retail sales data will likely set the tone for EM. Also, the US fiscal debate is set to continue this week, so expect lots of choppy trading across many markets.
Stock Markets Emerging Markets, November 13 Source: economist.com – Click to enlarge
China will likely report October money and loan data this week. October retail sales and IP will be reported Tuesday. The former is expected to rise 10.5% y/y and the latter by 6.2% y/y. Price pressures are picking up, but we not think the PBOC will change policy for the foreseeable