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

MNI China Daily Summary: Wednesday, July 24

France Manufacturing Sentiment Lowest Since Dec 2020

MNI: FRANCE JUL MANUF SENTIMENT AT 95

MNI: JAPAN JUNE SERVICES PPI +3.0% Y/Y; MAY REV +2.7%

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: USDCLP Bulls Return

LATAM FX
  • USDMXN has recovered from the recent low of 19.8126, Aug 15 low. A bearish theme remains in play despite the bounce. The recent break of support at 20.2080, Jul 29 low and the 20.00 handle, strengthened a bearish condition and exposed 19.8193, the Jun 27 low. This support has been pierced, a clear break would open 19.4136, the May 30 low. Key short-term resistance has been defined at 20.8335, the Aug 3 high. Initial resistance to watch is at 20.5004, Aug 4 high.
  • USDBRL recently cleared support at 5.1298, the Aug 1 low. The clear break highlights potential for a deeper retracement and has opened 5.0055, 61.8% of the May 30 - Jul 21 upleg. The 76.4% level is at 4.8853. On the upside, initial key resistance has been defined at 5.3157, the Aug 3 high. A break would reinstate a bullish focus and attention would turn to 5.5142, the Jul 21 high and a bull trigger.
  • USDCLP reversed course yesterday and has followed through today by gapping higher at the open. The sharp reversal threatens the recent bearish theme and the break of resistance at 921.33, Aug 5 high, signals scope for an extension higher. Attention turns to 970.08, the Jul 22 high and the next key short-term resistance. Key support has been defined at 869.63, the Aug 12 low.
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.