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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.
EMERGING MARKETS
- The current corrective pullback in USDMXN is still playing out and support at 20.9790, the Nov 3 high has this week been cleared. The break signals scope for a deeper pullback and opens the 50-day EMA at 20.7958 and 20.7009, the 76.4% retracement of the Nov 9 - 26 rally. Initial firm resistance to watch is 21.5147, Dec 1 high. A break would signal a reversal.
- The USDBRL short-term outlook has deteriorated following a sharp sell-off Tuesday and Wednesday. A deeper pullback would expose the base of the bull channel at 5.4458. The channel is drawn from the Jun 25 low and note too, a key support at 5.3885, the Nov 11 low. A break of both these levels would represent an important bearish technical development. Key resistance has been defined at 5.7018, Monday’s high.
- USDCLP is consolidating near recent highs. The move above 841.25, the Nov 18 high confirmed a resumption of the uptrend that has been place since early May, signaling scope for a climb towards the 850.00 handle and 878.86 further out, the Mar 19 2020 high. Key support has been defined at 798.65, the Nov 22 low.
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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