Free Trial

COP and BRL Top Of The Board, PEN Underperforms Amid Impeachment Motion

LATAM FX
  • The bounce in equity indices during the US session and move lower in the greenback has prompted a bounce in the likes of MXN and BRL, with the latter catching up to the days strongest performer, the Colombian peso.
  • The Brazilian Real continues to be very well supported on dips and USDBRL looks set to eye the bear trigger, residing at 4.9943, the Feb 23 low.
  • The Peruvian Sol is the weakest in the region as impeachment once again appears top of the political agenda. Latest headlines from Lawmaker Montoya:
    • Peru Opposition Lawmakers File Motion to Impeach Castillo (BBG)
  • Mexico February CPI the key piece of economic data on the docket tomorrow.
  • Below gives key levels of LatAm markets in current trade:
    • USDMXN unchanged at 21.3138
    • USDBRL down 0.68% at 5.0633
    • USDCLP down 0.42% at 809.75
    • USDCOP down 1.06% at 3771.85
    • USDPEN up 0.36% at 3.7359
    • JPMorgan EM Ccy Index up 0.54% at 50.224
    • S&P E-Mini Future up 68.25 points (1.63%) at 4267.5
    • WTI Crude Oil (front-month) up $2.62 (2.19%) at $121.93
    • Gold is up $30.96 (1.55%) at $2027.36

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.