MNI: FED BALANCE SHEET TOTAL ASSETS +$2.6B TO $7.224T IN WEEK

MNI BRIEF: Fed's Musalem: Interest Rates Likely To Be 3.5%-4% Over Long Run

MNI BRIEF: US Sees $1.3T Budget Deficit Through Nine Months

FED’S DALY: POLICY ADJUSTMENTS LIKELY WARRANTED AT SOME POINT

MNI China Daily Summary: Thursday, July 11

MNI BOK WATCH: More Evidence Needed To Cut Rates, Says Rhee

MNI: US JUN TREASURY BUDGET -66B

US Treasury Auction Calendar

US EIA:NAT GAS STORAGE +65 BCF TO 3,199 BCF JUL 05 WK

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: USDCLP Trendline Break Reinforces A Bearish Theme

LATAM FX
  • USDMXN remains above recent lows. From a short-term perspective, a corrective bearish cycle is potentially still in play following the move lower between Nov 3 - 9. A resumption of weakness would open 20.2517, Nov 9 low the next key short-term support. A break would expose 20.1196, Oct 26 low. Key resistance is unchanged at 20.9790, Nov 3 high.
  • USDBRL is off its recent low but despite this remains soft. Attention is on the base of a bull channel at 5.3634. The channel is drawn off the Jun 25 low and represents a key pivot support parameter. While price remains inside the bull channel, the underlying trend condition remains bullish and the current bear cycle is considered corrective. Initial resistance is at 5.6068, Nov 5 high. A bearish channel breakout would signal scope for a deeper sell-off and open the 5.20 handle.
  • USDCLP last week cleared an important trendline support drawn from the May 10 low. The break has also established a short-term bearish price sequence of lower lows and lower highs, suggesting scope for a deeper retracement. The move lower has opened the 780.00 handle. Initial firm resistance is seen at 805.33, the 20-day EMA. The EMA has been probed today but has provided resistance nevertheless. A more important key resistance is at 818.63, Nov 3 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.