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JGBS AUCTION

Japanese MOF sells Y966.1bn 20-Year JGBs:

JGBS AUCTION

Japanese MOF sells Y2.83828tn 1-Year Bills:

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JGBS AUCTION

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Update - Chilean Peso Feels Brunt Of Greenback Strength

LATAM
BulletEM BulletEmerging Markets
  • Despite the above 1% gains in the USD index on Friday following the stellar US jobs report, emerging market currencies have been impacted relatively less following the data, with the JPEM currency index down just 0.42%.
  • In LatAm, the Brazilian Real is close to unchanged for the session and shows clear outperformance. On the other hand, the Chilean peso has been the hardest hit following the release amid the sharp pressure on the front-end of the Treasury curve.
  • The Mexican peso also showing its resilience as USDMXN continues to hover just above recent lows. Attention remains on support at 20.2080, the Jul 29 low. A break would signal scope for a deeper pullback towards the 20.00 handle.
  • Later today, Citibanamex will release its economist survey with forecasts for inflation, GDP growth and monetary policy moves. On Monday, the focus will be on Chile CPI and Trade Balance. Later in the week, attention will be on Brazil central bank minutes and both Mexican and Brazilian CPI data for July.
    • There will be monetary policy decisions from both Mexico and Peru on Thursday.
  • Below gives key levels of LatAm markets in current trade:
    • USDMXN up 0.23% at 20.394
    • USDBRL down 0.04% at 5.2116
    • USDCLP up 1.75% at 918.35
    • USDCOP up 0.83% at 4323.58
    • USDPEN up 0.44% at 3.908
    • Bloomberg Dollar Index up 0.74% at 1276.04
    • JPMorgan EM Ccy Index down 0.42% at 50.341
    • S&P E-Mini Future down 35.5 points (-0.86%) at 4116
    • WTI Crude Oil (front-month) up $1.6 (1.81%) at $90.10
    • Gold is down $15.68 (-0.88%) at $1775.64
    • Copper Futures up 6.7 (1.92%) at 354.70
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  • Despite the above 1% gains in the USD index on Friday following the stellar US jobs report, emerging market currencies have been impacted relatively less following the data, with the JPEM currency index down just 0.42%.
  • In LatAm, the Brazilian Real is close to unchanged for the session and shows clear outperformance. On the other hand, the Chilean peso has been the hardest hit following the release amid the sharp pressure on the front-end of the Treasury curve.
  • The Mexican peso also showing its resilience as USDMXN continues to hover just above recent lows. Attention remains on support at 20.2080, the Jul 29 low. A break would signal scope for a deeper pullback towards the 20.00 handle.
  • Later today, Citibanamex will release its economist survey with forecasts for inflation, GDP growth and monetary policy moves. On Monday, the focus will be on Chile CPI and Trade Balance. Later in the week, attention will be on Brazil central bank minutes and both Mexican and Brazilian CPI data for July.
    • There will be monetary policy decisions from both Mexico and Peru on Thursday.
  • Below gives key levels of LatAm markets in current trade:
    • USDMXN up 0.23% at 20.394
    • USDBRL down 0.04% at 5.2116
    • USDCLP up 1.75% at 918.35
    • USDCOP up 0.83% at 4323.58
    • USDPEN up 0.44% at 3.908
    • Bloomberg Dollar Index up 0.74% at 1276.04
    • JPMorgan EM Ccy Index down 0.42% at 50.341
    • S&P E-Mini Future down 35.5 points (-0.86%) at 4116
    • WTI Crude Oil (front-month) up $1.6 (1.81%) at $90.10
    • Gold is down $15.68 (-0.88%) at $1775.64
    • Copper Futures up 6.7 (1.92%) at 354.70