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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
- While the rise in price volatility (i.e. VIX) has led to a small consolidation in DM equity markets, the USD consolidation has been supporting EM risky assets, which have taken off sharply this month.
- EM MSCI equities are up nearly 3% since the start of the year, while SP500 is down 1% and European equities are flat.
- The USD has been showing some signs of weakness in recent weeks after it peaked in the end of November.
- To the exception of the Swiss Franc, the USD appear to be moderately to significantly ‘overvalued’ according to a range of fair value metrics.
- The second consecutive miss on NFP last Friday is likely to have been one of the major factors behind this week’s USD consolidation.
- DXY is approaching its key support at 94.646, which represents the index 100DMA; a break below that level would open the door for a move down to 94.
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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