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(U1) Tilted Higher


(U1) Uptrend Weakening


Bullard Kickstarts Reflation Unwind Theme


Fresh 2021 Lows

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  • LATAM FX: With US yields gapping lower to 1.47% on the poor NFP print, the dollar weakened across the board and LatAm FX was naturally a beneficiary. Since then treasuries have reversed and the USD is off its worst levels as markets digest the US employment report and it's potential impact for global risk sentiment.
  • A few notable levels worth keeping an eye on:
    • USDMXN the old February lows around 19.90 tie in with the low just made following the data. 19.7850 April lows below there.
    • USDBRL 5.2145, 76.4% level of the Dec - Mar rally and 5.1923, Jan 14 low.
    • USDCLP the January lows at 693 very close to being tested with 693.61 the low so far. Below there, 686.05, is the 1.618 projection of the Oct 15 - Nov 9 - Nov 24 price swing.
  • US yields and any potential pressure on global equity indices likely to drive the price action as we head into the weekend.