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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
- In recent weeks, the global risk-on environment combined with the USD weakness have led to a strong rally in EM equities, rising above their January/March highs reached before the March 2020 panic.
- For instance, Hungarian equities (BUX index) have been constantly reaching new all-time highs in recent days after breaking above their January 2020 high (46,476), currently trading above 48,300.
- Czech and Polish equities have been also receiving strong support in the current environment, surging above last year's highs but still standing far below their 2007 highs:
- WIG20 Index is currently testing its 2,280 resistance after breaking above its January high in the end of May, which corresponds to the 38.2% Fibo retracement of the 1,253 - 3,940.50 range (3,940.50 was the high reached in October 2007). (first chart).
- PX Index also broke above its January 2020 (1,144) at the end of May and is gradually approaching its next key resistance at 1,276 (50% retracement of the 607 - 1,944 range). (second chart).
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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