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CLP, COP and PEN Undeterred By Dampened Global Risk Sentiment

  • Continued late session risk-off in equity markets with the S&P 500 extending intra-day losses to 2%. Overall, sentiment has very slowly filtered through to haven FX and in turn, has weighed on MXN & BRL
  • Fairly benign price action so far in currency markets but the Bloomberg dollar index does move back into positive territory for Thursday.
  • USDMXN unable to make inroads below 20.25 and now seen 0.3% higher on the day.
  • Additionally, USDBRL has made a strong near 1% move higher, after failing just before noted support at 5.1163, the Aug 31, 2021 low.
  • Unphased by the broader moves in global markets, CLP, COP and PEN made resilient headway against the grain.
  • Below gives key levels of LatAm markets in current trade:
    • USDMXN up 0.31% at 20.3399
    • USDBRL up 0.88% at 5.1746
    • USDCLP down 0.48% at 795.67
    • USDCOP down 0.78% at 3932.55
    • USDPEN down 0.54% at 3.7275
    • Bbg Dollar Index up 0.04% at 1173.86
    • S&P E-Mini Future down 87.5 points (-1.96%) at 4382.25
    • WTI Crude Oil (front-month) down $2.03 (-2.17%) at $91.59
    • Gold is up $28.8 (1.54%) at $1898.75

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