ETF Outlook For The Week Of June 9, 2014 (XRT, EIS, EWZ, EWJ, FXI)
ETF Outlook for the Week of June 9, 2014
SPDR S&P Retail ETF (NYSE: XRT)
The May retail sales number is set to be released on Thursday and it is expected to show an increase of 0.4 percent. This is an improvement over 0.1 percent last month. The ETF broke above resistance at $85 last week and could make a run to $88 if the rally continues.
iShares MSCI Israel Capped Investable Market ETF (NYSE: EIS)
The Israeli Parliament on Tuesday will elect a new president and that could have stocks moving ahead of the results. EIS closed at the best level since early April to end the week and is now within striking distance of the multi-year high of $54 per share. Depending on how the news is received this week, a breakout could be imminent.
iShares MSCI Brazil ETF (NYSE: EWZ)
The world’s largest sporting event, the World Cup, kicks off on Thursday in Brazil where the host country is the early favorite to win the tournament. While the U.S. and many other countries around the world are hitting new all-time highs, EWZ is down the last couple of weeks as it finalized the country for the big event. Look for EWZ to hold support at the $45 area.
iShares MSCI Japan ETF (NYSE: EWJ)
The Bank of Japan will hold a meeting this week with its decision on monetary policy expected on Friday. The analysts believe the central bank will leave the policy unchanged, which could disappoint investors that want an increase in stimulus. That being said, the country’s GDP was revised higher and well above expectations. EWJ finished last week at its best level since January.
iShares FTSE/Xinhua China 25 Index ETF (NYSE: FXI)
China on Tuesday will release several important economic numbers that include inflation, as well as producer prices. The country has been able to grow at approximately seven percent as it keeps inflation under control.
The stock market has rallied recently, but still lags both its emerging market and developed market peers. FXI broke above $37, which was resistance and is now holding above that level, which is bullish longer-term.
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