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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI EUROPEAN OPEN: Sharp Fall In China Bond Yields Continues
MNI BRIEF: RBA Details Hypothetical Monetary Policy Paths
Snapshot: USD Reversal Prompts Reprieve For LatAm FX
- Weakness for the USD Index on Tuesday that was exacerbated by a trifecta of softer US data points has lent support to regional currencies in addition to a recovery across the commodity space. The Chilean peso (+2.44%) is the best performer, largely in reaction to last week’s steep depreciation as renewed political uncertainties circulated.
- USDBRL has fallen 1.04% and as noted earlier, a bearish technical threat remains. The pair recently cleared support at 5.1298, the Aug 1 low. The break highlights potential for a deeper retracement and has opened 5.0055, 61.8% of the May 30 - Jul 21 upleg. On the upside, initial key resistance has been defined at 5.3157, Aug 3 high.
- Argentina June Economic Activity Index is expected to rise 5.8% Y/y, down from 7.4% in May. The data is scheduled for release at the top of the hour. Focus then turns to tomorrow’s mid-month inflation prints for both Mexico and Brazil. While Mexican figures are still expected to increase, Brazil annual IPCA is expected to fall once more to 9.50% amid some analysts expecting that the BCB’s tightening cycle is now over.
- Below gives key levels of LatAm markets in current trade:
- USDMXN down 0.59% at 20.0217
- USDBRL down 1.04% at 5.1027
- USDCLP down 2.44% at 918.74
- USDCOP down 0.9% at 4357.39
- USDPEN down 0.5% at 3.8615
- USDARS up 0.22% at 136.9488
- WTI Crude Oil (front-month) up $3.49 (3.86%) at $93.87
- Copper Futures up 3.75 (1.03%) at 368.90
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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.