Binance to Shut Down Crypto Mining Pool Services on November 10 
Energy Sector Outlook 2025: AI's Role and Market Dynamics 
XRP Price Drops 3% Despite Ripple-Backed Evernorth Nasdaq Debut 
AI Crypto Payments Surge to 138 Million Transactions on Base 
Zcash Price Drops 30% as ZEC Tests Critical $1,120 Support 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
Dogecoin Price Rebounds as DOGE Defends $0.08 Support 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Moldova Criticizes Russia Amid Transdniestria Energy Crisis 
Ethereum Whale Moves $15.95M ETH to Kraken After Nine Years 
Ripple-Backed Evernorth Set for Nasdaq Debut With 473 Million XRP 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Add as a preferred source on Google
The headwinds we highlighted last week for EM FX remain; negative EM political news flow is high, US tax reform discussions continue to provide upside USD risk, and EM FX positioning remains crowded even though outflows are picking up. As such, we add to our bearish stance and move underweight TRY, leaving us underweight in EMEA EM FX overall.
We encourage UW in the JPM’s GBI-EM Model Portfolio with an UW in ZAR and TRY vs. OW in RUB, and OW in PLN and CZK hedged against UW in RON. We also buy a 2m 4.10 USDTRY call option in outright trades.
Outright trades:
08-Jan-18 USDTRY call (4.10), spot reference: 3.8856
Short ZAR vs basket (0.5 EUR, 0.5 USD)
Short EURCZK spot reference: 25.55
Long ILS vs. basket (0.5 EUR, 0.5 USD) spot reference: 4.1460 (EURILS), 3.5101 (USDILS)
01-Mar-18 EURHUF downside seagull (Long put spread (304, 297), short call (312)), spot reference: 311.720.
