MNI BRIEF: Canadians Fuzzy On How BOC Hikes Slow CPI, Government's Role

CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: BCB Evaluating Real Depreciation Impacts - Galipolo

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

MNI: BAKER HUGHES US RIG COUNT 581; OIL RIGS 479; GAS RIGS 97

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

EZ/UK Bond Supply Calendar: BoE APF on Monday

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

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

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

Price Signal Summary: USDBRL Gains Considered Corrective

LATAM FX
  • USDMXN rebounded from Wednesday’s low of 20.1577. At this stage, short-term gains are considered corrective with trend conditions still highlighting a downtrend. Resistance levels to watch are; 20.7893, Feb 4 high and 20.9141, Jan 28 high. The latter is a key resistance and a break is required to highlight a potential reversal. On the downside, clearance of 20.1577 would confirm a resumption of the downtrend and open 20.1196, Oct 26 low ahead of the 20.00 handle.
  • USDBRL maintains a bearish stance and short-term gains are considered corrective. A bearish theme follows the recent clear break of support at 5.3885, Nov 11 low that highlighted a range breakout and confirmed a resumption of the bear cycle that started Dec 21. Attention is on a clear breach of the 5.00 handle to open 4.8934, the Jun 25, 2021 low. On the upside, resistance is seen at 5.2111, the 20-day EMA.
  • USDCLP rallied sharply higher yesterday having bounced off Wednesday’s low of 783.51, the Feb 23 low. Trend conditions remain bearish and short-term gains at this stage are considered corrective. The 50-day EMA at 815.33 has been probed but still offers a firm resistance area ahead of 832.75, the Feb 7 high. The bear trigger is 783.51. A break would open 783.23, the 50.0% retracement of the May - Dec 2021 upleg ahead of the 780.00 handle initially.
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.