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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Hacienda Dollar Sales May Lead USDCLP Lower
- After briefly closing the opening gap and making new highs from yesterday at 738.55, USDCLP remained heavy through the late session and closed down 0.75% on the day at 731.33.
- Certainly, Latam currency peers have rallied, however, the presence of Hacienda selling dollars may have aided the optimism in the peso.
- They sold $100million yesterday (posted on the website) and reports are a greater amount may have been done today.
- If the supply were to become consistent over the coming sessions, this has potential to reverse the current uptrend in place since Jan 21st.
- Through 725.66 would see bears target key support that lies at 711.00, Jan 21 low.
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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.