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

MNI: UK NOV FINAL MANUF PMI 48.0 (FLASH 48.6); OCT 49.9

MNI: EUROZONE NOV FINAL MANUF PMI 45.2 (FLASH 45.2); OCT 46.0

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

MNI: EUROZONE OCT UNEMPLOYMENT RATE 6.3%

MNI: GERMANY NOV FINAL MANUF PMI 43.0 (FLASH 43.2); OCT 43.0

MNI: FRANCE NOV FINAL MANUF PMI 43.1 (FLASH 43.2); OCT 44.5

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

USDCLP Sees Large Reversal, Turns Negative On Session

LATAM FX
  • Despite rising as much as 1.2% in early trade on Tuesday to print a session high of 903.24, USDCLP has fully reversed this move and now sits marginally softer on the day, just above 890. In similar vein, USDMXN has trended lower over the past few hours and is approaching session lows around 17.25.
  • Slightly bucking the trend, USDBRL does remain higher after the below estimate IPCA inflation data this morning, as well as swap rates falling between 7-11 bps across the DI curve. Some updated FX techs below:
    • USDMXN conditions remain bullish following last week’s gains and despite yesterday’s move lower. The pair has traded through an important resistance at 17.4280, the Aug 4 high. Looking at price patterns, the daily close above 17.4280 confirms a double bottom reversal pattern on the daily chart. This signals scope for a climb towards 17.9292 next - 50.0% of the Mar 20 - Jul 28 downleg. On the downside, support to watch lies at the 50-day EMA which intersects at 17.1302.
    • A bull cycle in USDBRL remains in play and the support to watch is 4.8416, the Aug 10 low. A break of this level would threaten the current bullish theme and expose key support at 4.6964, the Jul 28 low. The bull trigger is 5.0016, the Aug 18 high, clearance of this level would open 5.1277, the May 31 high.
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.