MNI BRIEF: Fed Risks Soft Landing If It Doesn’t Cut - Goolsbee

MNI BRIEF: EU Parliament Backs Von Der Leyen For 2nd Term

MNI: ECB LEAVES KEY DEPOSIT RATE UNCHANGED AT 3.75%

MNI China Daily Summary: Thursday, July 18

MNI BRIEF: China To Upgrade Rural Land Reform: 3rd Plenum

MNI BRIEF: China's Third Plenum Eye's Deeper Financial Reform

MNI: US TSY TICS NET FLOWS IN MAY +$15.8B

US Treasury Auction Calendar

US EIA:NAT GAS STORAGE +10 BCF TO 3,209 BCF JUL 12 WK

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 Clears Support

LATAM FX
  • The trend outlook in {MX} USDMXN is unchanged and remains bearish. Today’s break lower reinforces bearish conditions - the pair has breached support at 17.0340, the Nov 27 low. The break lower confirms a resumption of the downtrend and paves the way for weakness towards 16.6262, the Jul 28 low. Initial firm resistance is at 17.5653, the Dec 5 high.
  • {BZ} USDBRL remains inside its recent range. The trend direction is down and price action since Nov 16 is considered corrective. Note that recently, resistance at 4.9535, the Nov 10 high, was 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 {CL} USDCLP remains bearish and the recent shallow recovery is considered corrective. Key short-term support at 873.00, the Nov 3 low, has 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. The pair is testing resistance at 882.06, the 50-day EMA. A clear break would signal scope for a stronger correction near-term, towards 900.00 and note that key resistance is at 924.67, the Nov 13 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.