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

TECHS: LatAm FX Price Signal Summary: USDCLP Approaches Key Support

EMERGING MARKETS
  • USDMXN maintains a bearish tone.
    • This follows the recent clear break on Mar 31 of trendline support drawn off the Jan 21 low. Bears have since not looked back.
    • Furthermore, price has traded through the Mar 18 low of 20.2829 - a former key support. The break strengthened a bearish argument and Monday, support at 19.8924, Feb 15 low, was breached. This opens 19.5494, Jan 21 low.
    • On the upside, resistance is at 20.2427, Apr 13 high.
  • USDBRL remains vulnerable. The pair has breached support at 5.5396, Apr 8 low. An extension of the current bear cycle would confirm two key developments:
    • The break of trendline support drawn off the Dec 14 low.
    • A bearish triangle breakout. Price action since Mar 9 appears to have been trading within a triangle. This pattern was considered a bullish signal however the continued move lower suggests the breakout will likely favour bears. The break lower has opened 5.4499, Mar 19 low.
    • Key near-term resistance is unchanged at 5.6771, Apr 16 high.
  • USDCLP remains weak and is still in a downtrend. The pair last week probed a key support at 699.19, Feb 24 low. This signals scope for weakness towards the primary support at 693.00, Jan 6 low. A break of this level would confirm a resumption of the broader downtrend that started March 202 and open 686.05, 1.618 projection of the Oct 15 - Nov 9 - Nov 24 price swing. Initial resistance is at 714.50, Apr 13 high.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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.