CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

MNI: CANADA JUN INDUSTRIAL PRICES +0.0% MOM; EX-ENERGY +0.1%

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

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

Summary – Local Currencies Feeling The Pinch From Weaker Sentiment

LATAM
  • ECB Governing Council member Klaas Knot said there’ll still be more than one half-point increase in interest rates, with the inflation situation remaining unsatisfactory. Investors, who’ve been softening bets on monetary tightening, may be underestimating the ECB’s commitment to tame prices, Knot told CNBC on Thursday. Policymakers are focused currently on the risk of doing too little, he said.
  • With major equity indices extending to the downside on Thursday, USDMXN is continuing to trade with a firmer tone. The weaker global sentiment notably weighed on the likes of MXN, BRL and CLP, all posting close to 1% losses on Wednesday amid the weaker US data and the late bounce for the greenback.
    • Yesterday’s low in USDCLP closely matched with 807.85, the Jun 3 low with the first resistance point not seen until 845.07, the 20-day EMA.
    • Both USDMXN and USDBRL are also posting interesting turnarounds from a technical perspective, failing just ahead of noted supports for the pairs at 18.5237 (2020 low) and 5.0108 (Aug 29/30 low and a key support) respectively.
    • Today, Brazil unemployment printed in line with expectations at 8.1%. Next up is Colombia & Argentina trade balances before Mexico retail sales data headlines Friday’s docket.
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.