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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.
Free AccessMNI ASIA MARKETS OPEN: Tsy Curves Reverse Course Ahead Wed CPI
MNI ASIA MARKETS ANALYSIS:Waiting For Next Inflation Shoe Drop
Key Inter-Meeting Fed Speak – Dec 2024
US TREASURY AUCTION CALENDAR: Avg 3Y Sale
Crosswinds from US, Argentina Prompting Broad Losses Across Latam FX
The USD's rally through the cash equity open, twinned with the devaluation of the ARS to 350/USD has put Latam currencies on the backfoot through the Monday open.
- USD/CLP opened higher and is maintaining early gains, touching 869.17 and the best levels since December last year. The swaps curve sits slightly higher, moving in sympathy with US markets and the break out in the 10y yield - with US markets likely the key driver here, rather than the BCCh minutes. The minutes themselves continue to detail expectations of rates between 7.75-8.00% by year-end, inline with expectations.
- USD/BRL has rallied through last week's highs as well as the 100-dma resistance - last crossed in March - to trade the best levels since early June.
- USD/MXN has retraced the Friday move lower, and now eyes 17.1427 - however the 50-dma remains an anchor for the pair having traded either side of the level for eight consecutive sessions.
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.