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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.
EQUITIES
In contrast to bonds and the USD largely trading within the week's ranges, equities are looking vulnerable here. In addition to the weakness mentioned earlier in Eurostoxx, S&P futures are testing the overnight lows at 4372.25 (down 0.2%).
- Through here support will be eyed at 4368.50, the Jun 26 low, and beyond that 4344.28 (38.2% retracement of the Mar 13 - Jul 27 bull cycle).
- On that note, UK FTSE 100 futures at 7,256.50 (down 0.8%) are just above key support at around the 7,200 area tested in March and July. Beyond that lies Nov 2022 levels.
- As with Eurostoxx, leading losses are the Consumer Discretionary, Materials, Real Estate and Financials sectors, pointing to weakness in some interest rate sensitive / cyclical assets.
Source: BBG, 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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