FW: [Maybank] False Break or a Signal of Further Sell-Off?

 

 

False Break or a Signal of Further Sell-Off? Global Markets Daily by Saktiandi Supaat FX Research Focus centers back on S&P 500 as the index closed slightly below the 200 DMA overnight for the first time since Jun-2016. Persistent price action below 200 DMA amid tech stocks sell-off, trade war fears and UST yield curve compression could result in a self-inflicted/self-fulfilled risk-off cycle. This underscores our warning in FX Weekly yesterday for a cautious start to the week. Safe haven plays such as long JPY could be sought and bearish bets on AUD could pile on. But we caution that... Saktiandi Supaat     (65) 6320 1379     saktiandi@maybank.com.sg Christopher Wong     (65) 6320 1347     wongkl@maybank.com.sg Disclaimer This message is intended only for the use of the person to whom it is expressly addressed and may contain information that is confidential and legally privileged. If you are not the intended recipient, you are hereby notified that any use, reliance on, reference to, review, disclosure or copying of the message and the information it contains for any purpose is prohibited. If you have received this message in error, please notify the sender by return e-mail immediately and delete all its contents. If you wish to read Disclaimer in details, please click HERE. To unsubscribe or change preference settings, please click here to contact your representative.