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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
- USDCLP rose 1.25% Tuesday on the back of the risk off tone across equity markets and the sharp declines for copper futures. Following the unanimous BCCh cut overnight and signalling towards the easing cycle reaching a neutral level faster-than-expected, USDCLP may see further upside pressure at today’s open, ahead of the central bank’s IPoM report. It is also worth noting that August CPI data is scheduled this Friday.
- Price action saw USDCLP end the session in close proximity to previous key support at 929.78, the Aug 1 low. Overall, the USDCLP bear leg that started Aug 5 remains in play, however, the strong bounce from the July lows and the subsequent breach of 20- and 50-day EMAs are positive technical developments. A stronger reversal higher would refocus attention on 940.53, the Aug 16 high and then key resistance and the bull trigger at 966.61, the Aug 5 high.
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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