Critical Week For Emerging Markets -SocGen

Critical week for emerging markets says SocGen whereby investors are going to reassess their views in the wake of January's spectacular rally. "That means that potentially, the position-squaring under way could potentially turn into a proper correction in the worst-case scenario," says Societe Generale. Notes in the short term the data horizon is fraught with significant risks, with Friday's nonfarm payrolls data likely to be critical in shaping risk sentiment for the coming weeks. Adds the most vulnerable currencies to a potential shock to sentiment include the ZAR, RUB and HUF. EUR/HUF currently trades down at 294.44, EUR/PLN is at 4.2043 and EUR/CZK is trading at 25.259. USD/ZAR currently trades at 7.7863, while USD/TRY trades at 1.7756.