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

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

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

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

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 The 50-Day EMA

LATAM FX
  • USDMXN remains below its most recent high and is trading closer to its latest lows. The trend outlook remains bullish though and short-term weakness is considered corrective. A resumption of gains would suggest scope for a climb towards $18.6172, the 76.4% retracement of the Mar 20 - Jul 28 downleg. A break of this level would open 19.2322, the Mar 20 high. The bull trigger is 18.4863, the Oct 6 high. On the downside, key support has been defined at 17.7548, the Oct 12 low. Clearance of this level would signal scope for a deeper retracement.
  • USDBRL remains above last week’s low of 4.9310, on Oct 27. The latest recovery means that - for now - the breach of trendline support last week, drawn from the Jul 28 low, was a false break. Key short-term support has been defined at 4.9310 where a break is required to reinstate a bearish theme. This would also confirm a breach of the trendline. Initial resistance to watch is 5.1021, the Oct 13 high. A break would be a bullish development and would open 5.2202, the Oct 6 high.
  • The USDCLP uptrend remains intact, however, a corrective cycle remains in play and this has resulted in an extension lower. The pair has traded below the 20-day EMA and this has exposed support at the 50-day EMA which intersects at 900.42. The EMA has been pierced, a clear break of it would signal scope for a deeper pullback and expose 878.00. On the upside, key resistance and the bull trigger is at 955.00, the Oct 16 high.
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.