MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Greenback Weakness Lends Support To Regional Currencies

LATAM FX
  • Broad-based dollar weakness this afternoon, supported by soft Philly Fed non-manufacturing activity data earlier, is driving a rally in Latam FX early in the session. USDMXN and USDBRL have shown consistent weakness, while USDPEN gapped lower on the open, extending the move from late last week amid reports of Peru’s central bank selling dollars through FX swaps and spot markets.
    • USDMXN is currently piercing initial support at the 17.00 handle and further weakness would highlight key support and the bear trigger, which remains at 16.7852, the Jan 8 low.
    • USDBRL has made a decisive move lower through last week’s lows around 4.9450, taking the pair to the lowest since Feb 2. Initial key support to watch lies at 4.9025, the Jan 26 low, a breach of which would be a bearish development. On the upside, attention remains on key resistance at 5.0017, the Jan 23 high.
    • USDCLP continues to hover around 962-963, having outperformed regional peers through yesterday’s session. Nonetheless, price action is still considered corrective at this juncture. Initial firm support moves up to 950.70, the 20-day EMA.
    • USDPEN has continued lower through 3.77, having closed Monday’s session below 3.80 for the first time since Jan 26. This extends the pullback from the February highs to 3.19%.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.