A 2023 International Monetary Fund (IMF) working paper; spillovers to Emerging Markets from US economic News and Monetary Policy, had some interesting findings. That “economic news, and not just monetary policy, in the United States (US) affects financial conditions in emerging markets.”
The report specifically mentioned employment as having the strongest effects, followed by news about economic activity. Inflation news has the least effect on average. It further added that “effects are felt immediately, within two days of the news release.”
