CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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

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 - USDMXN Recovery Considered Corrective

LATAM FX
  • USDMXN maintains a softer tone despite the most recent recovery. Last week’s extension lower and Monday’s fresh cycle low, reinforces bearish conditions. The move down has confirmed a resumption of the bear trend and maintains the price sequence of lower lows and lower highs. The focus is on 17.0507, the Apr 29 2016 low. Firm resistance is unchanged at 18.4011, the Apr 5 high. A breach would signal a potential reversal. First resistance is at 17.7816, the 20-day EMA. Short-term gains are considered corrective.
  • The trend outlook in USDBRL remains bearish and recent weakness reinforces this theme. Key support and the bear trigger at 4.8928, the Apr 14 low, has been pierced. A clear break of this level would confirm a resumption of the bear cycle and open 4.8478, the Jun 8 2022 low. On the upside, firm resistance to watch is seen at 5.0465, the 50-day EMA.
  • USDCLP recently pierced support at 783.10, the Mar 31 low. A continuation lower and clear breach of 783.10, would expose the key bear trigger at 776.28, the Feb 3 low. Clearance of this level would confirm a resumption of the broader downtrend - the medium-term trend direction remains down. The pair remains above Monday’s low, a stronger bounce would refocus attention on key short-term resistance at 837.15, the Mar 17 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.