The recent surge stems from a few causes, including ongoing negotiations with the U.S. after postponing some retaliatory tariffs and a drop in cost of crude; a commodity that India is also increasingly turning to America for in the face of new sanctions on Iranian oil. However, what’s truly driven price action in the MSCI India Index (NDEUSIA) is a rash of stellar financial reports from the country’s leading public sector banks and energy companies, bolstering some of the index’s largest holdings in those industries.

Other than signs of a blooming presidential friendship and a stable, though not stellar, economy, Mexico has actually not had strong catalysts supporting some of the enthusiasm that struck its market following the July first election results. And, with the real risk of President Trump instating tariffs on auto imports in his hard-line approach to trade negotiations and Obrador’s reluctance to open up the country’s oil industry to private investment, traders eyeing a broad Mexico index should stay abreast of the country’s diminished, 2 percent growth outlook for coming quarters.

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