MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Chilean Peso Extends Losses Amid Rampant Greenback

LATAM FX
  • The US dollar is extending its broad based gains with the Bloomberg dollar index now up 1.05% and registering record highs. Declines in equity and commodity markets are further bolstering the greenback, with risk-tied currencies in the EM space bearing the brunt of the moves.
  • Declines across all LatAm FX, with MXN and BRL continuing their downward trajectory, however the magnitude of the moves largely in line with the USD adjustment.
  • However, CLP, significantly underperforming on the day as a combination of factors continue to provide stiff headwinds. The lack of aggressive action at yesterday’s BCCh meeting, rhetoric ruling out immediate currency intervention, plummeting copper prices and ongoing domestic political uncertainties related to the upcoming constitutional vote are providing a very bleak short-term outlook amid crashing risk-sentiment across global markets.
  • Argentina inflation data later today, followed by Peru economic activity and Colombian production data to finish the week on Friday.
  • Below gives key levels of LatAm markets in current trade:
    • USDMXN up 1.13% at 20.9688
    • USDBRL up 1.41% at 5.4689
    • USDCLP up 3.1% at 1039.25
    • USDCOP up 1.2% at 4544.09
    • USDPEN up 0.91% at 3.9894
    • Bloomberg Dollar Index up 1.07% at 1303.26
    • USDCNH up 0.93% at 6.7885
    • JPMorgan EM Ccy Index down 1.21% at 48.928
    • S&P E-Mini Future down 75.25 points (-1.98%) at 3730
    • WTI Crude Oil (front-month) down $4.44 (-4.61%) at $91.88
    • Copper Futures down 13.05 (-3.92%) at 319.50
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.