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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI ASIA OPEN: Weak 30Y Reopen, ECB Forward Guidance Weighing
MNI ASIA MARKETS ANALYSIS: Tsys Reverse Early Data Driven Gain
MNI US Inflation Insight: Softer Housing Helps Ensure Dec Cut
Update: USDMXN Strengthens To Week's Highs Amid Equity Weakness
- The latest downtick in equity indices, likely linked to the headlines relating to the Billionaire's Tax in the US not being dead, prompting an extension of recent USDMXN strength to the best levels of the week above 20.30. Tomorrow's US GDP data likely to be the primary piece of event risk before domestic growth figures are published on Friday.
- The 100-day MA, now residing at 20.1208 appears to be limiting MXN strength over the past few sessions. Firm short-term resistance is not until 20.5975, Oct 15 high.
- Pressure on MXN has seen similar pressure on front-end TIIE swap rates and a flatter curve. The front end of the curve has risen by between 4-8bps, whereas the long end has fallen around 8-9bps.
- Limited price movement across the region today with USDBRL close to unchanged ahead of the Copom decision later tonight. The DI curve is marginally lower, with profit taking likely in play ahead of tonight's decision.
- USDCLP trading in similar fashion to USDBRL with no prime driver. Developments over the fourth pension withdrawal bill in the senate will be awaited and election concerns linger in the background.
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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.