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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
- Flattening yield curves in addition to rising USD amid the recent surge in uncertainty over the Delta variant have been weighing on EM Financial Stocks since the beginning of June.
- In addition, we previously saw that the sharp fall in Chinese real money growth has also been one of the major factors behind the weak performance in Financials; China real M1 money growth tend to lead cyclical stocks (i.e. financials) by 6 months.
- Next key support on MSCI EM Financials (MXEF0FN Index) stands at 323, which represents the 200DMA SMA and the 23.6% Fibo retracement of the 223.80 – 354.74 range. A break below that level would open the door for a move down to 310 (LT upward trending support line).
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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