MNI BRIEF: China June CPI Hits Three Month Low

RBNZ MPC SAYS OCR "HAS SIGNIFICANTLY REDUCED CPI"

MNI: RBNZ LEAVES OCR AT 5.5%

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

Contrasting Momentum Dynamics Underscore Need For July Data

Services Drive Downside Surprise in CPI-ATE

MNI: NORWAY JUN CORE CPI +0.2% M/M, +3.4% Y/Y

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

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

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

Price Signal Summary: USDMXN Trend Condition Remains Bearish

LATAM FX
  • USDMXN is consolidating. The pair continues to challenge the key short-term support and bear trigger at 20.2787, Jan 18 low. Clearance of this level would confirm a resumption of the downtrend and open 20.2517, Nov 9 low and 20.1196, Oct 26 low. Key short-term resistance is unchanged at 20.9141. A break would alter the picture.
  • USDBRL path of least resistance remains down. 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 has been in place since Dec 21. Bears have not looked back since the break. Sights are on 5.0970, 76.4% of the Jun - Oct 2021 bull phase. On the upside, resistance is seen at 5.2792, the 20-day EMA.
  • The USDCLP trend direction remains bearish and the recent reversal from 832.75, Feb 7 high, reinforces this theme. The focus is on 793.46, the Jan 27 low and a bear trigger. This level has been probed, a break would confirm a resumption of the downtrend and open 788.22, the Nov 10 low ahead of 783.23, the 50.0% retracement of the May - Dec 2021 upleg. 832.75 marks the key short-term resistance.
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.