Free Trial
USDCAD TECHS

Outlook Remains Bearish

JGB TECHS

(U2) Technical Outlook Still Positive

AUDUSD TECHS

Pullback Considered Corrective

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Financials Remain Vulnerable In The Near Term

EMERGING MARKETS
  • EM Financials remain vulnerable in the near term in the current risk off environment as surging recession risks could continue to weigh the cyclical stocks.
  • EM MSCI Financials Index continues to trade at the low of its downward trending channel, currently flirting with the 301.60 support line.
  • A break below that level would bring us to November 2020 lows.
  • Next key level to watch on the downside stands at 295.20, which corresponds to the 50% retracement of the 223.80 – 366.60 range.
  • On the topside, resistance to watch stands at 312 (38.2% Fibo retracement).

Source: Bloomberg

105 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • EM Financials remain vulnerable in the near term in the current risk off environment as surging recession risks could continue to weigh the cyclical stocks.
  • EM MSCI Financials Index continues to trade at the low of its downward trending channel, currently flirting with the 301.60 support line.
  • A break below that level would bring us to November 2020 lows.
  • Next key level to watch on the downside stands at 295.20, which corresponds to the 50% retracement of the 223.80 – 366.60 range.
  • On the topside, resistance to watch stands at 312 (38.2% Fibo retracement).

Source: Bloomberg