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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 gradual increase in uncertainty over the Delta (and now Lambda) variants combined with the significant tightening in Chinese 'liquidity' continue to weigh on some risky assets, especially EM equities.
- The chart shows that EM financials (MXEF0FN Index) broke below their 100DMA, continuing their bearish momentum after reaching a local high of 352.74 in June.
- Next support to watch stands at 332.63, which corresponds to the 76.4% Fibo retracement of the 224.27 – 336.10 range (2020/21 low high range), followed by 319.79 (200DMA).
- Rising demand for 'safe' assets such as the US Dollar could continue to push EM equities to new lows in the near term.
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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