NEW YORK ( TheStreet) -- Here are this week's ETF winners and losers.
iShares MSCI Italy Index Fund ( EWI) 6.67% Report of EU progress in its handling of the Greek debt crisis boded well for the region, leading many euro-focused ETFs to impressive gains over the past week. The biggest movers were the most volatile members of the currency bloc. The iShares EWI and iShares MSCI Spain Index Fund ( EWP) could both be found towards the top of this week's winners list. Looking ahead, despite their strength over the past week, I would encourage conservative investors to avoid these troubled nations. iShares Dow Jones U.S. Broker-Dealers Index Fund ( IAI) 5.10% A three-day spurt of strength in mid-week helped provide IAI with the gains needed to earn a spot on this week's winners list This week's upward action is a welcome relief for the broker-dealers ETF. Since peaking in mid-February, it has continued along a consistent downward path. In the next few days, investors will want to keep a close watch on IAI. It is currently testing its 50-day moving average. Since dipping below this level in early March, it is become a point of resistance. iShares MSCI Thailand Investable Market Index Fund ( THD) 5.96% The Thai ETF has enjoyed an impressive start to the second half of 2011. With the past week's gains, the fund has clawed back towards all-time highs. Thailand is not the only nation hailing from this corner of the globe that has seen strength in recent weeks. Indonesia and Malaysia are two other countries that may be worth watching. They can be accessed using the Market Vectors Indonesia ETF ( IDX) and iShares MSCI Malaysia Index Fund ( EWM) respectively. Guggenheim Canadian Energy Income ETF ( ENY) 4.52% Energy producers got a lift this week, fueling funds like ENY and SPDR S&P Oil & Gas Exploration & Production ETF ( XOP) higher. In the week ahead, expect this region of the marketplace to remain in focus. Top energy producers from across the globe are slated to report their quarterly earnings performances. Companies on tap include Exxon Mobil ( XOM), Chevron ( CVX), BP ( BP), Royal Dutch Shell ( RDS.A) and Total ( TOT).