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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EMERGING MARKETS
- In the recent weeks, EM currencies have been under pressure as the uncertainty over the Delta variant and the political instability in some countries has been surging, increasing preference for safe haven currencies such as the US Dollar.
- ADXY has been trending lower this morning, breaking below its 107.54 support, which represents the 61.8% Fibo retracement of the 99.96 – 112.22 range (2018/2021 high low range).
- Next ST support to watch on the downside stands at 107.
- Weakness in EM currencies could also weigh on EM equities in the coming weeks; periods of currency weakness have generally been associated with cheaper equities in the EM world.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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