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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
- The rising fear of an Evergrande bankruptcy combined with the strong USD have been weighing on EM equites in the past two weeks.
- In addition, the sharp contraction in Chinese liquidity in the past 10 months has also been weighing on EM risky assets, and is currently pricing in lower EM stocks in the near term.
- EM equities keep testing lower highs since their peak reached in mid-February, indicating that the momentum looks currently bearish.
- The chart below shows that the MXEF Index (MSCI EM) fell below the 1,285 support this week, which represents the 23.6% Fibo retracement of the 751.80 - 1,449.40 range.
- Next support to watch on the topside stands at 1,200, which corresponds to the low of its LT downward trending channel.
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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