FXStreet (Guatemala) - Analysts at Brown Brothers Harriman noted that the EM starts the week on a soft footing. Key Quotes: "The repercussions of the attacks in Paris are still unclear, but the dollar’s rise against the majors continues and is likely to keep it bid against EM currencies as well. Equity markets continue to slide, albeit at a modest pace. MSCI EM is coming up on the 62% retracement objective of its September-November bounce near 809. A break below would set up a test of the September 29low near 770. " "Anecdotal reports about continued outflows from EM will continue to weigh on sentiment. For example, EM equities ETFs listed in the US lost over $1 bln in funds, the third straight week of outflows according to Bloomberg data. Possibly the most important idiosyncratic factor to watch is the ongoing story about replacing Brazilian Finance Minister Levy, with one major newspaper claiming that he has already signaled to President Dilma his desire to leave the government. Reports of CNY inclusion in the SDR basket are positive for sentiment at the margin, though the investment implications remain unclear. Relative calm in Chinese markets could help EM gain some limited traction." For more information, read our latest forex news.