CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 477; GAS RIGS 103

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

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

Price Signal Summary - Monitoring Resistance In USDBRL

LATAM FX
  • The latest bearish pullback in USDMXN is potentially significant because it means that resistance at the 50-day EMA, which intersects at 17.9660, remains intact - for now. This is a key short-term hurdle for bulls where a break would signal a stronger reversal. The primary trend direction is down and a continuation lower would expose the bear trigger at 17.4207, May 15 low. A break of this level would open 17.0507, the Apr 29 2016 low.
  • USDBRL is trading higher. Recent gains have resulted in a break of both the 20- and 50-day EMAs. For now, the move higher appears to be a correction. However, a clear break of the 50-day EMA and a move above resistance at 5.0891, the Apr 19 high, would alter the picture and suggest scope for stronger recovery. On the downside, a reversal lower would refocus attention on the bear trigger that has been defined at 4.8859, the May 15 low. A break would resume the downtrend.
  • USDCLP is largely unchanged and is holding on to the bulk of its most recent gains. The pair recently pierced support at 783.10, the Mar 31 low. A clear breach of 783.10, would expose the key bear trigger at 776.28, the Feb 3 low. Clearance of this level would confirm a resumption of the broader downtrend. For now, the pair remains above the May 15 low, a stronger bounce would instead refocus attention on key short-term resistance at 837.15, the Mar 17 high.
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.