MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

MNI BRIEF: China State Planner To Increase Trade-in Support

MNI China Daily Summary: Thursday, July 25

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

US EIA:NAT GAS STORAGE +22 BCF TO 3,231 BCF JUL 19 WK

Core Goods Pipeline Pressures Pick Up On 3m/3m Basis

Aircraft-Led Durables Collapse Masks Rebound In Core Orders

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USDCLP Breaches 1,000 Mark Amid Relentless Greenback Strength

LATAM FX
  • With the US Dollar maintaining its relentless upward trajectory against other G10 currencies, LatAm FX is naturally feeling the pinch. While the Mexican peso has fallen broadly in line with the size of move seen in the dollar index, the Chilean Peso continues to be the worst performer in the region.
  • Chile’s low volatility-adjusted carry continues to weigh on the local currency, with additional downward pressure from the moves seen in the commodity markets, especially copper. Thin liquidity dynamics are also likely exacerbating the move.
  • Further weakness likely to be factored in by the central bank and the government with regard to potential currency intervention and may increase the probability of bolder action at Wednesday’s BCCh meeting than previously signalled.
  • Below gives key levels of LatAm markets in current trade:
    • USDMXN up 1.1% at 20.6806
    • USDBRL up 1.9% at 5.3569
    • USDCLP up 3.03% at 999.65
    • USDCOP up 1.69% at 4494.24
    • USDARS up 0.46% at 127.375
    • Bloomberg Dollar Index up 0.96% at 1290.49
    • JPMorgan EM Ccy Index down 0.77% at 49.338
    • S&P E-Mini Future down 24.5 points (-0.63%) at 3877.25
    • BBG Commodity Index up 1.2508 points (1.08%) at 117.1384
    • WTI Crude Oil (front-month) down $2.26 (-2.16%) at $102.52
    • Copper Futures down 7.3 (-2.07%) at 345.90
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market 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.