Free Trial

USDCLP Signals Remain Bullish

CHILE
  • The Chilean peso traded on the backfoot again yesterday, with USDCLP edging up by 0.3% to 945.7 at the close, bringing the pair close to resistance at 948.30, 61.8% of the bear leg between Apr 16 and May 20. Clearance of this retracement point would further strengthen a bullish condition. However, moving average studies remain in a bear-mode position, suggesting that the recent recovery is a correction.
  • On the macro front, the calendar is light today. The next major data release comes on Friday, when activity figures for May will be published, including data for retail sales, IP and copper production, as well as the latest labour market figures.

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.