MNI BRIEF: US May Existing Home Sales Pace Falls 0.7% To 4.11M

MNI INTERVIEW2: Uninsured Bank Deposits Still Vulnerable-Bair

CANADA APR RETAILS +0.7%, MATCHING FORECAST, PRIOR -0.3%

MNI BRIEF: China Hopes EU To Ease Frictions Via Negotiations

MNI: PBOC Net Injects CNY8 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1196 Fri; -1.41% Y/Y

MNI: BAKER HUGHES US RIG COUNT 588; OIL RIGS 485; GAS RIGS 98

EZ/UK Bond Supply Calendar: EU Auction, BoE APF Monday

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

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Price Signal Summary - USDMXN Starts The Week On A Bearish Note

LATAM FX
  • USDMXN has started the week on a bearish note and the pair is trading lower, extending the current bear cycle. The outlook remains bearish and key short-term resistance has been defined at 17.4280, the Aug 4 high. A clear break of this hurdle would highlight a potential short-term reversal and open 17.7714, the May 31 high. The bear trigger lies at 16.6262, the Jul 28 low, where a break would confirm a resumption of the medium-term downtrend.
  • The current USDBRL bull cycle remains in play and the latest pullback that started on Aug 18, appears to be a correction. A key resistance at 4.9499, the Jul 6 high was breached recently. This is seen as an important short-term breakout and opens 5.0039, the Jun 2 high. Further out, an extension would expose 5.1277, the May 31 high. The next support to watch is 4.8416, the Aug 10 low. A break would threaten the bull theme and expose key support at 4.6964, the Jul 28 low.
  • USDCLP maintains a short-term bullish tone, however, the sharp pullback last week highlights a corrective cycle. The pair has traded through the 20-day EMA and attention turns to the next key support at 835.73, the 50-day EMA. A clear break of this level is required to suggest scope or a deeper retracement. Key resistance and the bull trigger has been defined at $872.75, the Aug 18 high. Initial resistance is at 860.95, the Aug 24 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.