MNI BRIEF: Fed's Goolsbee Taking Job Gains With Grain Of Salt

BRIEF: EU Says Engaging With China Over EV Trade Dispute

MNI BRIEF: Draghi Calls For Tariffs, Subsidies Against China

MNI BRIEF: China May M2 Slows To Record Low Again

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

US Treasury Auction Calendar

MNI: BAKER HUGHES US RIG COUNT 590; OIL RIGS 488; GAS RIGS 98

EZ/UK Bond Supply Calendar: Slovakia, Belgium, BoE APF Monday

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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

Price Signal Summary: Fresh Cycle Low In USDCLP

LATAM FX
  • USDMXN continues to trade near its recent lows. The trend remains down. The USD has arrived at and is challenging the 20.00 handle. A clear break of this support would strengthen bearish conditions and open 19.8486, the Sep 13, 2021 low. Resistance to watch is at 20.4578, the 20-day EMA.
  • USDBRL remains bearish and continues to deliver fresh cycle lows and extend the current trend lower. Last week’s key technical development was the break of key support at 4.8187, Jun 2020 low and the base of the broad range that has dominated since the price peak in May 2020. The break of this support reinforces the current bearish theme and from a medium-term perspective, also suggests a significant reversal. The next objective is 4.6451, the Mar 13 2020 low. The 20-day EMA at 4.9781 marks resistance.
  • USDCLP remains soft. The pair traded lower Friday and importantly, breached support at 783.51, the Feb 23 low and the bear trigger. The break lower confirms a resumption of the primary downtrend and an extension of the bearish price sequence of lower lows and lower highs. Moving average studies continue to point south as well, highlighting the current trend direction. Initial resistance is seen at 805.49, the 50-day EMA. The focus is on 761.31, 61.8% of the rally between May - Dec 2021.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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.