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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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- Both USDMXN and USDBRL had brief spikes to the best levels of the day on the release of the FOMC statement, however, initial dollar optimism has been sold into and local currencies have reversed.
- USDMXN reached 20.0329 before resuming a small downtrend over the past week since peaking at 20.25 last week. The price action supports the noted bearish technical theme that continues to dominate. A break lower may expose 19.7059, Jun 25 low and 19.5987, the Jun 9 low.
- In very similar price action but with a greater magnitude USDBRL printed 5.1915 and has since narrowed the gap to the Jun 16 close at 5.1152.
- Both Chilean and Colombian Pesos have risen in line with greenback weakness, reversing some of yesterday's poor performance.
- Some minor Brazilian IGP inflation data due tomorrow but the bulk of the domestic event risk will feature on Friday.
- Mex GDP, Brazilian unemployment rate and Budget Balance, Chilean central bank minutes and unemployment rate.
- The main event will be the Colombian central bank rate decision and statement. Currently, all 20 analysts expect an unchanged decision, however, with many forecasters highlighting a potential lift-off at the September meeting, BanRep's communication will be eagerly anticipated.
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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.