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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
- EM equities have been testing new lows this week amid rising uncertainty; MXEF Index is approaching its ST support at 1,210, a break below that level would open the door for a move down to 1,200.
- On one hand, looser policy from China could support domestic and EM risky assets in the medium term after the sharp consolidation this year.
- On the other hand, the hawkish Fed and the deterioration in the economic outlook could increase preference for ‘safe’ assets such as the US Dollar and therefore weigh on EM equities.
- Key support to watch on the downside stands at 1,183, which corresponds to the 38.2% Fibo retracement of the 751,80 – 1,449.40 range.
- On the topside, first resistance stands at 1,269.80 (100DMA).
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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