MNI China Daily Summary: Friday, November 22

UK NOV FLASH MANUF PMI 48.6 (FCST: 50.0); OCT 49.9

EUROZONE NOV FLASH MANUF PMI 45.2 (FCST: 46.0); OCT 46.0

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

MNI China Daily Summary: Thursday, November 21

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

GERMANY NOV FLASH MANUF PMI 43.2 (FCST: 43.0); OCT 43.0

FRANCE NOV FLASH MANUF PMI 43.2 (FCST:44.5); OCT 44.5

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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Price Signal Summary - USDMXN Bear Threat Remains Present

LATAM FX
  • The trend outlook in USDMXN is unchanged and remains bearish. Recent short-term gains are considered corrective. Moving average studies remain in a bear-mode position, highlighting a downtrend. The recent breach of support at 17.2833, the Nov 3 low, confirmed a resumption of the current bear cycle and opens 16.9988, the Sep 20 low. Clearance of this level would signal scope for a move towards 16.6262, the Jul 28 low. On the upside, a move above 17.9394, the Nov 10 high, would highlight a reversal. Initial resistance is at 17.5811, 38.2% of the Oct 20 - Nov 27 downleg.
  • USDBRL is trading closer to its recent highs. The trend direction is down and the latest move higher is considered corrective. Note that resistance at 4.9535, the Nov 10 high, has been pierced. A clear break of this level would ease bearish pressure. This would expose 5.0696, the Oct 31 high. For bears. recent weakness resulted in a clear break of 4.8590 support, the Nov 7 low. The move lower confirmed a resumption of the downtrend and signals scope for an extension towards 4.8200, 76.4% of the Jul 28 - Oct 6 upleg, and the 4.8000 handle.
  • The trend outlook in USDCLP remains bearish and the latest recovery is considered corrective. Key short-term support at 873.00, the Nov 3 low, has recently been cleared. The break of this level strengthens a bearish threat and signals scope for a deeper retracement towards 837.45, the Aug 25 low. For bulls, clearance of 924.67, the Nov 13 high, would expose key resistance at 955.00, the Oct 16 high. Initial resistance is at $885.35, the 50-day EMA.
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