MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

CBI Price Expectations for Three Months Ahead Lowest Since December 2020

MNI: UK JUL CBI INDUSTRIAL TRENDS TOTAL ORDERS -32

Broad-Based IFO Weakness Reinforces Narrative of Recovery Stall

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 - USDBRL Bear Threat Remains Present

LATAM FX
  • The trend outlook in USDMXN is unchanged and remains bearish. Recent short-term gains have proven to be a correction and the move lower since Dec 5, reinforces a bearish theme. Moving average studies are in a bear-mode position too, highlighting a downtrend. The recent breach of support at 17.2833, the Nov 3 low, confirmed a resumption of the current bear cycle. Support at 17.0340, the Nov 27 low, has been pierced. A clear break would signal scope for weakness towards 16.6262, the Jul 28 low. Initial firm resistance is at 17.5653, the Dec 5 high.
  • USDBRL remains inside its recent range. The trend direction is down and price action since Nov 16 is considered corrective. Note that recently, resistance at 4.9535, the Nov 10 high, was pierced. A clear break of this level would ease bearish pressure. This would expose 5.0696, the Oct 31 high. For bears, recent weakness resulted in a clear break of 4.8590 support, the Nov 7 low. The move lower confirmed a resumption of the downtrend and signals scope for an extension towards 4.8200, 76.4% of the Jul 28 - Oct 6 upleg, and the 4.8000 handle.
  • The trend outlook in USDCLP remains bearish and the recent shallow recovery is considered corrective. Key short-term support at 873.00, the Nov 3 low, has been cleared. The break of this level strengthens a bearish threat and signals scope for a deeper retracement towards 837.45, the Aug 25 low. For bulls, clearance of 924.67, the Nov 13 high, would expose key resistance at 955.00, the Oct 16 high. Initial resistance is at $882.14, the 50-day EMA.
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.