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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
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CLP Leads Gains In Latam After Soft US CPI Data
- Seeing a notable move lower in USDCLP following the softer-than-expected US CPI data, with the pair currently 1.3% lower on the day. Given the obvious political and fiscal risks which are weighing on MXN and BRL, the rally in CLP is providing a cleaner reaction to the US data, which is also benefitting from a 2% rebound in copper prices today.
- For USDCLP, a bear trend in USDCLP remains intact and the earlier recovery appears to be a correction, for now. Important resistance at the 50-day EMA has been well respected and the average currently intersects at 926.46.
- For bears, the break in early May of support at 935.63, the Mar 15 low, marked an important technical breach and highlighted a stronger reversal. Attention remains on 886.96, the 76.4% retracement of the Dec 1 ‘23 - Feb 26 bull leg, a clear break of which would open 870.45, the Dec 29 low.
To read the full story
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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.