MNI China Daily Summary: Wednesday, March 20

MNI BRIEF: PBOC To Facilitate Cross-border Financial Data Flow

MNI BRIEF: Swap Connect Quotas Currently Sufficient - PBOC

MNI: PBOC Conducts CNY3 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC INJECTS CNY3 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI China Press Digest March 20: M&A, Consumer Rights, FDI

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

CBR Data Watch

US MBA: REFIS -3% SA; PURCH INDEX -1% SA THRU MARCH 15 WK

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Supportive Price Action For Local Currencies, DI Curve Bear Flattens

LATAM
  • Brazilian swap rates have risen following the inflation data released earlier, increasing the likelihood of a 100bp hike to the Selic rate at the Copom's August meeting. The front end of the DI Curve has come under pressure, with Jan22 and Jan 23 DI swap contracts rising between 17-19 basis points with the DI curve bear flattening overall.
  • BRL leading the way on Friday for Latam FX, up 0.7%, as local currencies are supported despite a broadly unchanged greenback to finish the week.
  • USDMXN (-0.4%) has broken out of the latter part of the week's range and has stalled just short of the Tuesday lows at 20.00 the figure.
  • USDCLP ever so slightly lower with technical indicators still suggesting a bearish outlook for the Peso.
  • A fairly busy data schedule next week for Mexico with economic activity and GDP data headlining the docket.
  • Given the explicit mentions to Federal Reserve policy in the opening paragraphs of the most recent central bank statements, Wednesday's FOMC statement and press conference will inevitably be the most important event for local asset prices.
BulletEM BulletEmerging Markets NewsHomepage
BulletEM BulletEmerging Markets 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.