MSCI Currency Indexes - Yardeni · MSCI Currency Indexes Yardeni Research, Inc. June 4, 2020 Dr. Edward Yardeni 516-972-7683 [email protected] Joe Abbott 732-497-5306 [email protected]

Market Briefing:MSCI Currency Indexes

Yardeni Research, Inc.

June 19, 2020

Dr. Edward Yardeni516-972-7683

[email protected]

Joe Abbott732-497-5306

[email protected]

Please visit our sites atwww.yardeni.comblog.yardeni.com

thinking outside the box

Table Of Contents Table Of ContentsTable Of Contents

June 19, 2020 / MSCI Currency Indexes www.yardeni.com


FiguresAll Country World MSCI 3All Country World ex-US MSCI 4BRIC MSCI 5Developed Europe MSCI 6Developed World ex-US MSCI 7EAFE MSCI 8Emerging Markets MSCI 9EM Asia MSCI 10EM Eastern Europe MSCI 11EM Latin America MSCI 12EMU MSCI 13Europe MSCI 14Europe ex-United Kingdom MSCI 15

95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21165

215

265

315

365

415

465

515

565

615

665

715

150

200

250

300

350

400

450

500

550

600

650

6/19

yardeni.com

Source: MSCI.

ALL COUNTRY WORLD MSCI INDEX(ratio scale)

Local currency

US$

Figure 1.

95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21.75

.80

.85

.90

.95

1.00

.75

.80

.85

.90

.95

1.00

6/19

yardeni.com

Source: MSCI.

ALL COUNTRY WORLD MSCI INDEX CURRENCY RATIO (US$ index / local currency index)

Figure 2.

All Country World MSCI

Page 3 / June 19, 2020 / MSCI Currency Indexes www.yardeni.com


95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21100

150

200

250

300

350

400

100

150

200

250

300

350

400

6/19

yardeni.com

Source: MSCI.

ALL COUNTRY WORLD EX-US MSCI INDEX(ratio scale)

Local currency

US$

Figure 3.

95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21.6

.7

.8

.9

1.0

1.1

.6

.7

.8

.9

1.0

1.1

6/19

yardeni.com

ALL COUNTRY WORLD EX-US MSCI INDEX CURRENCY RATIO(US$ index / local currency index)

Source: MSCI.

Figure 4.

All Country World ex-US MSCI



95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2150

150

250

350

450

550

50

150

250

350

450

550

650

750850

6/19

yardeni.com

Source: MSCI.

BRIC MSCI INDEX(ratio scale)

Local currency

US$

Figure 5.

95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21.4

.5

.6

.7

.8

.9

1.0

1.1

.4

.5

.6

.7

.8

.9

1.0

1.1

6/19yardeni.com

Source: MSCI.

BRIC MSCI INDEX CURRENCY RATIO(US$ index / local currency index)

Figure 6.

BRIC MSCI



95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21600

1000

1400

1800

2200

2600

500

900

1300

1700

2100

2500

6/19

yardeni.com

Source: MSCI.

DEVELOPED EUROPE MSCI INDEX(ratio scale)

Local currency

US$

Figure 7.

95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21.8

.9

1.0

1.1

1.2

1.3

1.4

1.5

.8

.9

1.0

1.1

1.2

1.3

1.4

1.5

6/19

yardeni.com

Source: MSCI.

DEVELOPED EUROPE MSCI INDEX CURRENCY RATIO(US$ index / local currency index)

Figure 8.

Developed Europe MSCI



95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21700

1100

1500

1900

2300

2700

400

600

800

1000

1200

1400

1600

6/19

yardeni.com

Source: MSCI.

DEVELOPED WORLD EX-US MSCI INDEX(ratio scale)

Local currency

US$

Figure 9.

96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 221.2

1.3

1.4

1.5

1.6

1.7

1.8

1.9

2.0

2.1

2.2

1.2

1.3

1.4

1.5

1.6

1.7

1.8

1.9

2.0

2.1

2.2

6/19

yardeni.com

Source: MSCI.

DEVELOPED WORLD EX-US MSCI INDEX CURRENCY RATIO(US$ index / local currency index, daily)

Figure 10.

Developed World ex-US MSCI



95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21100

125

150

175

200

225

250

275

300

325

350

100

150

200

250

300

6/19

yardeni.com

Source: MSCI.

EAFE MSCI INDEX(ratio scale)

Local currency

US$

Figure 11.

95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21.7

.8

.9

1.0

1.1

1.2

1.3

1.4

.7

.8

.9

1.0

1.1

1.2

1.3

1.4

6/19

yardeni.com

Source: MSCI.

EAFE MSCI INDEX CURRENCY RATIO(US$ index / local currency index)

Figure 12.

EAFE MSCI



95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21200

400

600

800

1000

1200

1400

1600

9000

19000

29000

39000

49000

59000

69000

6/19

yardeni.com

Source: MSCI.

EMERGING MARKETS MSCI INDEX(ratio scale, daily)

Local currency

US$

Figure 13.

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022.15

.20

.25

.30

.35

.40

.15

.20

.25

.30

.35

.40

6/19

yardeni.com

EMERGING MARKETS MSCI CURRENCY RATIO(US$ index / local currency index, daily)

Source: MSCI.

Figure 14.

Emerging Markets MSCI



95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21100

200

300

400

500

600

700

100

250

400

550

700

850

1000

1150

6/19

yardeni.com

Source: MSCI.

EMERGING MARKETS ASIA MSCI INDEX(ratio scale)

Local currency

US$

Figure 15.

95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21.50

.55

.60

.65

.70

.75

.80

.85

.90

.95

1.00

.50

.55

.60

.65

.70

.75

.80

.85

.90

.95

1.00

6/19

yardeni.com

Source: MSCI.

EMERGING MARKETS ASIA MSCI INDEX CURRENCY RATIO(US$ index / local currency index)

Figure 16.

EM Asia MSCI



95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2125

100

175

250

325

400

475

25

135

245

355

465

575

6/19

yardeni.com

Source: MSCI.

EMERGING MARKETS EASTERN EUROPE MSCI INDEX(ratio scale)

Local currency

US$

Figure 17.

95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21.4

.5

.6

.7

.8

.9

1.0

1.1

1.2

.4

.5

.6

.7

.8

.9

1.0

1.1

1.2

6/19

yardeni.com

Source: MSCI.

EMERGING MARKETS EASTERN EUROPE MSCI INDEX CURRENCY RATIO(US$ index / local currency index)

Figure 18.

EM Eastern Europe MSCI



95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21500

1500

2500

3500

4500

5500

6500

750

2750

4750

6750

8750

10750

6/19

yardeni.com

Source: MSCI.

EMERGING MARKETS LATIN AMERICA MSCI INDEX(ratio scale)

Local currency

US$

Figure 19.

95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21.2

.3

.4

.5

.6

.7

.8

.9

1.0

.2

.3

.4

.5

.6

.7

.8

.9

1.0

6/19yardeni.com

Source: MSCI.

EMERGING MARKETS LATIN AMERICA MSCI INDEX CURRENCY RATIO(US$ index / local currency index)

Figure 20.

EM Latin America MSCI



95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 2170

110

150

190

230

270

310

70

110

150

190

230

270

310

6/19

yardeni.com

Source: MSCI.

EMU MSCI INDEX(ratio scale)

Local currency

US$

Figure 21.

95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21.6

.7

.8

.9

1.0

1.1

1.2

1.3

.6

.7

.8

.9

1.0

1.1

1.2

1.3

6/19

yardeni.com

EMU MSCI INDEX CURRENCY RATIO(US$ index / local currency index)

Source: MSCI.

Figure 22.

EMU MSCI



95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21175

275

375

475

575

675

175

275

375

475

575

675

6/19

yardeni.com

Source: MSCI.

EUROPE MSCI INDEX(ratio scale)

Local currency

US$

Figure 23.

95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21.6

.7

.8

.9

1.0

1.1

1.2

.6

.7

.8

.9

1.0

1.1

1.2

6/19

yardeni.com

Source: MSCI.

EUROPE MSCI INDEX CURRENCY RATIO(US$ index / local currency index)

Figure 24.

Europe MSCI



95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21350

550

750

950

1150

1350

1550

1750

500

1000

1500

2000

2500

3000

6/19

yardeni.com

Source: MSCI.

EUROPE EX-UK MSCI INDEX(ratio scale)

US Dollars

Local Currency

Figure 25.

95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 211.0

1.1

1.2

1.3

1.4

1.5

1.6

1.7

1.8

1.9

2.0

1.0

1.1

1.2

1.3

1.4

1.5

1.6

1.7

1.8

1.9

2.0

6/19

yardeni.com

Source: MSCI.

EUROPE EX-UK MSCI INDEX CURRENCY RATIO(US$ index / local currency index)

Figure 26.

Europe ex-United Kingdom MSCI



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Documents

MSCI Currency Indexes - Yardeni · MSCI Currency Indexes Yardeni Research, Inc. June 4, 2020 Dr. Edward Yardeni 516-972-7683 [email protected] Joe Abbott 732-497-5306 [email protected]