CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Price Signal Summary - USDCLP Pierces Key Support

LATAM FX
  • USDMXN traded lower last week and for now, the pair remains above last week’s low. Short-term gains would likely be a correction and a bearish theme remains intact. A resumption of weakness and a break of last week’s low of 17.2833 (Nov 3), would signal scope for an extension towards 16.9988, the Sep 20 low. Initial firm resistance is at 17.7141, the 50-day EMA. A clear break of this average would instead highlight a possible short-term reversal.
  • USDBRL traded sharply lower last Thursday and Friday. The pair has breached trendline support at 4.9647. The trendline is drawn from the Jul 28 low and the break confirms a resumption of the bear leg that started Oct 6. Note too that this also cancels a recent bullish theme. Sights are on 4.8408 next, the Sep 19 low and the 4.8000 handle. Initial firm resistance is at 5.0696, the Oct 31 high.
  • The USDCLP uptrend remains intact, however, a corrective cycle is in play and this resulted in an extension lower last week. The pair has traded below both the 20- and 50-day EMAs. The move lower has also resulted in a print below key support at 878.00 next, the Sep 20 low and a key level. A clear break of this support would open 862.38, the Sep 5 low. On the upside, initial resistance is at 911.84, the 20-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.