MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

CHINA PBOC CONDUCTS CNY66.1 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1358 WEDS VS 7.1334

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI: US MBA: MARKET COMPOSITE -2.2% SA THRU JUL 19 WK

US MBA: REFIS +0.3% SA; PURCH INDEX -4% SA THRU JULY 19 WK

Market round-up post PMIs

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

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

Strong Divergence Between MXN & CLP

LATAM FX
  • LatAm currencies are diverging on Wednesday as fundamental headlines spur idiosyncratic moves across the region.
  • The Mexican peso remains the strongest on the board as news regarding the government agreeing to pay for a railway line it had appropriated mitigates short-term political uncertainty. The Peso recovery has been aided by the technical backdrop, with our earlier note stating that USDMXN has remained below the 50-day exponential moving average, a potentially significant development. However, it is worth noting that President AMLO has just stated that although it expects a deal, it will not be in cash and will be over concessions and a permit.
    • Latest: *AMLO SAYS GMEXICO WILL HAVE TO PAY TO USE SEIZED RAILWAY (BBG)
  • On the other end of the spectrum, the Chilean peso is under pressure despite a relatively benign open and now sits 0.82% lower against the greenback. Weaker copper futures, underperformance for local bank stocks following the counter-cyclical buffer announcement from the BCCh as well as negative global risk sentiment are all providing headwinds for the Peso.
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.