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MNI Research
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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.
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Free AccessE-Minis Pressured By New COVID Strain
The previously flagged discovery of the new COVID variant in Africa has pressured risk assets in Asia-Pac dealing, leaving the S&P 500 e-mini contract ~0.6% lower on the day. Could the Santa rally/buy the dip mentality be at risk? That probably depends on the scale of restrictions implemented across the globe and any tweaks to the major central bank views if the variant begins to spread more widely and any potential lockdowns/restrictions become more entrenched, although any delay of a reduction in central bank stimulus would of course provide additional liquidity vs. current expectations i.e. a cushion for equities.
- While the unrelenting march higher in U.S. equities has been in play since the central banks turned on the support taps back in March '20, our technical analyst notes that attention remains on Monday's reversal lower, whereby the contract registered a bearish shooting star candle. Initial support is seen at Tuesday's low (4,649.00), with a break through the Nov 10 low (4,625.25) required to confirm the technical top. Bulls need to force a fresh all-time high, which would negate the signal and confirm the resumption of the uptrend.
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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.