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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.
CHILE
- Signs are for a very close race at the November election following the leading candidates having already traded places as front-runner. Leftist candidate Gabriel Boric edged into the lead in Chile's latest opinion poll, though well within the margin of error.
- As noted, Boric obtained 24% of voter intentions, up from 21% in the previous week's survey, according to a Cadem poll published on Monday. Right-wing candidate Sebastian Sichel placed second with 22%, down from 24% previously.
- Additionally, souring risk sentiment has provided further tailwinds for the Peso to start the week with equity indices firmly in the red following disappointing economic activity data out of China.
- Front-month copper futures have retreated 1.4%, providing another catalyst for a weaker Peso that is by far the worst performer across global currencies on Monday, down 1.57%.
- As pointed out, the technical trend remains bullish for the pair. Moving average studies remain in a bull mode with the next momentum trigger at 795.73, the Aug 9 high. Above here we note 806.84 which represents not only the August 2020 highs but also the 61.8% retracement from the March 2020 – May 2021 price swing.
MNI/Bloomberg
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.
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