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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.
LATAM FX
- The Chilean peso has extended on gains post the open. A strong mixture of economic data and polling results have prompted strong tailwinds for the local currency to start the week. USDCLP (Down 1.2%) is fast approaching noted support at the 50-day EMA and psychological 800 mark.
- Annual inflation rose to 6.0%, well ahead of the 5.6% estimate and maintains pressure on the BCCh who have accelerated policy tightening at their most recent meetings. The front end of the Camara swaps curve has risen on the back of the data. The long-end remains unchanged amid the boost for the peso as the continued growing momentum for conservative Kast buoys investor sentiment.
- With no more polls until post-1st round, candidates Kast & Boric remain favourites for a December run-off. A second round campaign running through to December involving Kast and Boric runs the risk of turning negative very quickly, given the candidates are at polar opposites of the political spectrum.
- Given that there are still two weeks until the first round vote there is no guarantee the current frontrunners make it through. Should any of the moderates such as Sebastian Sichel from the centre-right Chile Vamos or Yasna Provoste from the centre-left New Social Pact make it through it would notably reduce political risks.
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.
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