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EURGBP TECHS

Recovering, But Not Through Resistance

GBPUSD TECHS

Consolidation Mode

EURUSD TECHS

Bearish Threat Remains, Despite Intraday Rally

COMMODITIES

Gold Bumped to New Multi-Month Highs

BRAZIL

BRL Hedging Volumes Surge Post-BCB

LATAM

MEXICO - Another solid bounce in USDMXN saw the pair back above 20.00 and testing towards the year's highs at 20.2611 yesterday. Despite the pullback in equities, USDMXN consolidated it's gains and closed towards the upper end of the daily range up 0.75% on the day. New highs made overnight at 20.2915.

  • 1200GMT/0700ET - Mexico Nov. Retail Sales Expected 1.8% m/m vs prior -1.4%.

BRAZIL - Brazil returns from Sao Paulo City Anniversary holiday. USDBRL made fresh new highs for 2021 above 5.52 yesterday in a very subdued session. Swaps curve will digest the minutes released earlier which had a potential hawkish development with some members discussing normalisation.

Markets will await the mid-month IPCA inflation readings for further evidence of the surge in inflation and the continued pressure it places on the central bank.

  • Inflation IPCA-15 m/m Expected 0.82% vs prior 1.06%
  • Inflation IPCA-15 y/y Expected 4.34% vs prior 4.23%
MNI London Bureau | +44 020 3983 7893 | jack.lewis@marketnews.com