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(U1) Holding Onto Gains


Lower And Through Support


Risk Appetite Resumes


In A Range

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  • CLP and COP two of the poorest performing currencies on Thursday. As well as the stronger greenback, heavy copper and oil prices have acted as headwinds, combining with fragile political backdrops.
  • USDMXN, after spiking to 20.62 during the European session, has remained between the 38.2% and 50% Fib retracements of the March-June sell-off. 20.2421, the 100-day MA should act as a primary short-term support for the pair.
  • The Brazilian Real has shown great resilience throughout the session, firming 0.59%, in the face of weaker commodities and a stronger dollar. Although USDBRL has been unable to crack 5.00, the resilience following the hawkish central bank proves the psychological support may come under pressure in sessions to come.
    • USDMXN up 0.25% at 20.4437
    • USDBRL down 0.59% at 5.0253
    • USDCLP up 1.47% at 737.55
    • USDCOP up 0.95% at 3713.35
    • Bbg Dollar Index up 0.51% at 1139.56
    • JPMorgan EM Ccy Index down 0.54% at 57.128
    • WTI Crude Oil (front-month) down $1.11 (-1.54%) at $71.06
    • Gold is down $33.13 (-1.83%) at $1778.47
    • Copper Futures down 20.9 (-4.77%) at 417.60
    • US 10-Yr yield is down 6.6 bps at 1.5091%