MNI China Daily Summary: Friday, December 6

MNI BRIEF: BOJ Tankan To Show Slipping Sentiment

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

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

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI China Daily Summary: Thursday, Dec 5

MNI: EUROZONE Q3 GDP +0.4% Q/Q, +0.9% Y/Y

MNI: GERMANY OCT IND PROD -1% M/M

US EIA:NAT GAS STORAGE -30 BCF TO 3,937 BCF NOV 29 WK

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 Trend Needle Still Points North

LATAM FX
  • USDMXN traded higher last week and has also touched fresh highs this week - 20.5367 on Wednesday. A bullish theme remains intact - recent gains have resulted in a break of 20.1950, the Apr 6 high, and price has also traded above the 50-day EMA. Note too that a double bottom reversal pattern has also been confirmed on the daily chart, reinforcing a short-term bull theme. Attention is on the 50.0% Fibonacci retracement of the Mar-Apr range, at 20.5975. Clearance of this level would open 20.8028, the 61.8% retracement. Key support has been defined at 19.7274, the Apr 4 low.
  • USDBRL is firmer following Friday’s gains and this week’s follow through. A move higher is considered corrective - for now - however there is potential for an extension of the recent bounce. The pair is once again trading above the 20- and 50-day EMAs. A continuation higher would open 5.1689, the Mar 15 high. Initial support is seen at 4.7989, the 20-day EMA.
  • USDCLP maintains a firmer tone. Recent gains have resulted in a break of resistance at 823.72, Apr 11 high, and this confirms an extension of the current bull cycle that started Mar 29. Potential is seen for a climb above the 860.00 handle, towards 876.15, the Dec 20 high. Firm support has been defined at 799.53, the Apr 13 low. Initial support lies at 823.72.
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.