MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI BRIEF: Former BOC Dep Beaudry Sees 2.75%-3% Rate In 2025

BOC WILL BE CONSDIERING FURTHER RATE CUTS

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

USDCLP Consolidating Above 900, No Data Scheduled Next Week

CHILE
  • The softer greenback in the aftermath of the PPI data is moderately boosting Latam currencies on Friday, although momentum has stalled over the past 15 minutes. USDCLP has remained inside Thursday’s trading range and is broadly consolidating the solid move higher this week, following the below-estimate CPI data and increased analyst expectations of bolder easing in January. It is worth noting there is no domestic data on the docket next week.
  • One desk noted interesting flows where systematic accounts continue to add to their CLP shorts since the start of the year, with the recent CPI miss boosting those positions build up. Against those though, they saw RM accounts chasing value and fading the bounces in USDCLP, initially above 875 and then again above 900.
  • USDCLP maintains a firmer technical tone following the latest extension of the recovery that started Dec 1. The move above 902.28, the Dec 26 high, strengthens a short-term bullish condition and opens 924.67, the Nov 13 high. Clearance of this level would signal scope for an extension towards 955.00, the Oct 16 high. On the downside, initial support lies at 887.59, the 50-day EMA.
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.