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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
- Momentum on cyclical stocks accelerates in the current environment, with EM financials (MXEF0FN Index) testing key ST resistance at 351.28, which corresponds to the 61.8% Fibo retracement of of the 224.27- 429.79 range (2018-2021 high low range)
- A break above that level would open the door for a move up to 366 (January 2020 high).
- As major economies prepare for global reopening, business surveys have been surging in most of the developed economies with JP Morgan Global Manufacturing PMI surging to an 11-year high of 56 in May.
- Main risk for EM equities in the short run is a sudden rise in demand for the USD as market is starting to price in a significant reduction in growth expectations for Q4 21 and Q1 22 (as probability of a renewed lockdown in DM economies rises).
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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