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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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Free AccessBRL Fades 1% Amid Broad Dollar Strength
- The Brazilian real is the weakest in the region today amid broad dollar strength following the US retail sales report as well as weakness in the commodity space.
- Particular weakness in iron ore futures weighing on the local currency and oil retreating from its best levels.
- Most recent commentary from lower house speaker Lira relating to the precatorios issue not being resolved next week potentially adding fuel to the fiscal uncertainty fire.
- As expected, more subdued price action for MXN given recent dynamics as well as the local holiday. 19.85 holds again on the downside but with 50 and 100-day moving averages coming around the 20.00 mark, USDMXN bulls will require a more sustained bounce than the 0.3% seen so far on Thursday.
- USDCLP matched yesterday's lows at 777.50 and has enjoyed a small rally in line with greenback strength.
- With an extremely light data calendar for all of next week, expect the price action to be led by broader themes as well as headlines concerning upcoming elections and the fourth pension withdrawal.
- As a reminder the Lower House's constitution commission will vote on each article of the bills for a fourth round of pension withdrawals on September 22.
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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.