CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Barclays Take Profit On Short USDMXN Spot And Short USDCLP 1m NDF

LATAM FX
  • Risk rallied on the Fed's pivot, and Barclays believe the rally still has legs in the near term with relief overdue. However, ahead of key US data and in light of the large moves, Barclays are recommending that investors lock in profits in LatAm USD shorts, and look to re-engage with other expressions.
    • The idiosyncratic component of the CLP strength is likely behind us, and it still remains the funder of LatAm. Barclays also retain their constructive MXN view, as carry remains attractive and the currency is trading closely to US exceptionalism.
    • Barclays close their short USDMXN recommendation for a potential profit of 3.73% (inclusive of carry; entry: 18.21, exit: 17.60). They also close their short USDCLP 1m NDF recommendation for a potential profit of 1.53% (entry: 907, exit: 893.15).
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.