Free Trial
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.
EM FX
- ADXY edges lower after failing to break through its 200DMA (108.35) in the past few days amid rising uncertainty over Delta variant.
- Another 'soft period of lockdown' starting in fall 2021 to lower the risk of another (4th) Covid wave would dramatically reduce the growth expectations in the EM world, which have constantly been reviewed to the upside in recent months.
- More uncertainty would also imply stronger US Dollar (and therefore cheaper ADXY).
- Next support to watch on ADXY stands at 108, followed by 107.76 (23.6% Fibo retracement of the 2020/2021 low high range). On the topside, ST resistance to watch above 108.35 stands at 108.71 (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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok