CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

LATAM FX: Price Signal Summary - USDBRL Key support Remains Intact

LATAM FX
EM BulletBulletGlobalEmerging Market NewsRegion
  • USDMXN is unchanged and continues to trade below the August and September highs. The Sep 11 - 18 bear leg is considered corrective and the next key support to watch lies at 19.2378, the 50-day EMA. It has been pierced. A clear break of this average would undermine a bullish theme and expose 18.5999, the Aug 16 low. For bulls, a resumption of gains would refocus attention on key resistance and the bull trigger at 20.2181, the Aug 5 high. First resistance and a key short-term hurdle for bulls, is at 19.8295, the Oct 1 high.                                             
  • USDBRL trading higher this week and is once again above the 50-day EMA, at 5.5068. Key support at 5.3768, the Aug 19 low, remains intact. A clear break of this level would strengthen a bearish threat and open 5.2405, the Jun 6 low. For bulls, attention on resistance at 5.6917, the Aug 30 high and a bull trigger. Initial resistance and a near-term bull trigger is at 5.5971, the Sep 23 high.   
  • USDCLP has continued to trade higher, this week. The recovery that started Sep 27, has resulted in a break of both the 20- and 50-day EMAs. This undermines a recent bearish theme and signals scope for an extension higher, towards 951.80, the Sep 10 high. A reversal lower and a move through the 20-day EMA, at 920.28, would signal the end of the latest bull phase and refocus attention on support at 891.28, the Sep 27 low.
245 words

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.
  • USDMXN is unchanged and continues to trade below the August and September highs. The Sep 11 - 18 bear leg is considered corrective and the next key support to watch lies at 19.2378, the 50-day EMA. It has been pierced. A clear break of this average would undermine a bullish theme and expose 18.5999, the Aug 16 low. For bulls, a resumption of gains would refocus attention on key resistance and the bull trigger at 20.2181, the Aug 5 high. First resistance and a key short-term hurdle for bulls, is at 19.8295, the Oct 1 high.                                             
  • USDBRL trading higher this week and is once again above the 50-day EMA, at 5.5068. Key support at 5.3768, the Aug 19 low, remains intact. A clear break of this level would strengthen a bearish threat and open 5.2405, the Jun 6 low. For bulls, attention on resistance at 5.6917, the Aug 30 high and a bull trigger. Initial resistance and a near-term bull trigger is at 5.5971, the Sep 23 high.   
  • USDCLP has continued to trade higher, this week. The recovery that started Sep 27, has resulted in a break of both the 20- and 50-day EMAs. This undermines a recent bearish theme and signals scope for an extension higher, towards 951.80, the Sep 10 high. A reversal lower and a move through the 20-day EMA, at 920.28, would signal the end of the latest bull phase and refocus attention on support at 891.28, the Sep 27 low.