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USDCAD TECHS

Heading North

GLOBAL POLITICAL RISK

Modi, AMLO Top Major Economy Leader Poll, Macron Last

AUDUSD TECHS

Under Pressure

EURJPY TECHS

Trend Condition Remains Bearish

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  • USDCLP (+0.75%) has moved higher amid a slightly stronger dollar, pressure on emerging-market FX and broad weakness in commodity prices.
  • The JPMorgan Emerging market currency index is down 0.62% on Thursday. The weakness is being impacted significantly by moves in the Turkish lira and Brazilian real but underscores a slightly more negative tone for risk.
  • In particular, copper futures have fallen around 2% adding a headwind for the Chilean peso with the Bloomberg commodity index falling 0.82% as of writing.
  • Firm short-term support has held, just above 806.63, the Oct 14 low and is a technically positive development for bulls.
  • Political concerns continue to linger with the focus around the November 21 Presidential election, but also the ongoing constitutional re-write provides an uncertain backdrop going forward.
  • Only data this week is September PPI scheduled for Friday.