Someone forgot to tell you it was still May on the calendar? That means anything can happen in EM. And even if the crisis is inspired by a political crisis in the developed world, the impact is always the same – EM gets torched.
But despite the aggressive peak to intraday low today move of 4.2% EM equities have held their down draft trend line from December lows, test in mid-march, mid-April and now in mid-May.
EM also has a major level to hold at $39.70-$40.00 on the EEM. We need a constructive hold on todays close yet markets are not ready to just forgive and forget.
- Heavy rain to hit central ChinaSource: China.orgPublished on 2017-08-20
- Make China greenerSource: China.orgPublished on 2017-08-20
- Beijing court bans production of air-polluting companySource: China.orgPublished on 2017-08-20
- Xi congratulates scientists on expedition to the Qinghai-Tibet PlateauSource: China.orgPublished on 2017-08-20
- Administration for tiger and leopard national park inauguratedSource: China.orgPublished on 2017-08-20
- Nation’s first internet court up and runningSource: China.orgPublished on 2017-08-20
- Xi calls on HK youths to serve HK, countrySource: Xi calls on HK youths to serve HK, countryPublished on 2017-06-30
- Heavy rain to hit central China