MNI China Daily Summary: Tuesday, July 23

MNI: PBOC Net Drains CNY408.7 Bln Via OMO Tues

MNI: PBOC Sets Yuan Parity Lower At 7.1334 Tues; -1.30% Y/Y

CHINA PBOC CONDUCTS CNY267.3 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1334 TUES VS 7.1335

MNI PBOC WATCH: PBOC Cuts 7-Day Rate As Reconfigures Framework

MNI: US JUL PHILADELPHIA FED NONMFG INDEX -19.1

EZ/UK T-Bill Calendar: 3/6-Month RATB Auction on Tuesday

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

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: USDMXN Bounces Off Yesterday’s Low

LATAM FX
  • USDMXN has rebounded from yesterday’s low of 20.1577. At this stage, short-term gains are considered corrective with trend conditions still highlighting a downtrend. Resistance levels to watch are:
    • 20.7893, Feb 4 high and
    • 20.9141, Jan 28 high. This level is a key resistance and a break is required to highlight a potential reversal.
    • On the downside, clearance of 20.1577 would confirm a resumption of the downtrend open 20.1196, Oct 26 low ahead of the 20.00 handle.
  • USDBRL maintains a bearish stance and corrections remain shallow. A bearish theme follows the recent clear break of support at 5.3885, Nov 11 low that highlighted a range breakout and confirmed a resumption of the bear cycle that started Dec 21. Attention is on a clear break of the 5.00 handle to open 4.8934, the Jun 25, 2021 low. On the upside, resistance is seen at 5.2209, the 20-day EMA.
  • USDCLP has recovered from yesterday’s low of 783.51, the Feb 23 low. Trend conditions remain bearish and short-term gains at this stage are considered corrective. The 50-day EMA at 815.16 offers a firm resistance area ahead of 832.75, the Feb 7 high. The bear trigger is 783.51. A break would open 783.23, the 50.0% retracement of the May - Dec 2021 upleg ahead of the 780.00 handle initially.
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.