FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

Snapshot: BRL Continues Slide As Support Gives Way

LATAM
  • USDBRL broke above the July highs at 5.3130 and failed to look back. Not even the sharp dollar selloff could alter the direction for the pair as political anxieties plague the local currency. With WTI crude falling below $65 a barrel for the first time since May 2021 and risk sentiment waning, this has added to the headwinds for the currency.
    • The break of this hurdle confirms a resumption of the uptrend that started Jun 25 and initially opens 5.3740, May 24 high.
    • Local swap rates rose between 15-20 basis points across the DI curve.
  • USDMXN traded an extremely narrow 19.95-20.03 range as the extremely light data calendar and lack of event risk fails to spark any life into the Peso.
    • USDMXN down 0.06% at 19.9981
    • USDBRL up 1.21% at 5.3575
    • BRLMXN down 1.22% at 3.732
    • JPMorgan EM Ccy Index down 0.23% at 56.095
    • S&P E-Mini Future down 13 points (-0.29%) at 4430.75
    • WTI Crude Oil (front-month) down $1.38 (-2.07%) at $65.18
    • Gold is down $0.29 (-0.02%) at $1785.66
    • Copper Futures down 8.8 (-2.09%) at 411.80
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.