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Coming up in the Asia-Pac session on Tuesday:


Corrective Bounce


Bearish Threat Following Friday’s Sell-Off


Finds Support Below The 50-Day EMA

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  • Colombian CPI released over the weekend has lent support to the currency on Monday, notably outperforming the region, as markets assume the higher inflationary pressures will lead to a continuation of a 50bp rate hike pace. Additionally, the very strong recovery in oil prices is bolstering COP, currently up 0.9% against the greenback.
  • The likelihood of more aggressive short-term monetary tightening has weighed on the front-end of the IBR swaps curve, which has bear flattened.
  • Chilean CPI data kicks off the data docket on Tuesday, before Chile trade balance figures and Mexico Gross Fixed investment are also published.
    • USDMXN down 0.19% at 21.2343
    • USDBRL up 0.57% at 5.6849
    • USDCLP up 0.63% at 846.53
    • USDCOP down 0.89% at 3932.17
    • USDPEN up 0.21% at 4.0855
    • S&P E-Mini Future up 56.5 points (1.25%) at 4594.25
    • WTI Crude Oil (front-month) up $3.46 (5.22%) at $69.72
  • Colombia IBR Swaps:
    • 1-yr +16 bps at 4.79%
    • 2-yr +7 bps at 5.67%
    • 5-yr +6 bps at 6.29%
    • 10-yr +4 bps at 6.65%