Free Trial

Data React: USD Off Worst Levels Following US Jobs Data

LATAM FX
  • 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.

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.