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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.
LATAM FX
- LatAm FX has come under substantial pressure on Monday amid the deterioration in global equity benchmarks and rising yields.
- The majority of currencies are seen roughly 2.5% lower against the greenback, with the Peruvian Sol (-0.9%) relatively outperforming the EM basket.
- As noted, USDMXN has breached the earlier highs as well as the 200-day moving average. This narrows the gap with a key technical point at 20.6378 the Apr 28 high. It marks an important resistance, of which a break would suggest potential for an extension higher.
- Worth noting USDCOP (+2.46%) is now back above the psychological point of 4,000. Of more interest perhaps, this opens the potential for a test of the upper-bound of the more significant medium-term range at 4,106.
- Below gives key levels of LatAm markets in current trade:
- USDMXN up 2.64% at 20.4884
- USDBRL up 2.7% at 5.1209
- USDCLP up 2.94% at 870.53
- USDCOP up 2.54% at 4041.35
- USDPEN up 0.84% at 3.7935
- Bloomberg Dollar Index up 0.98% at 1265.43
- USDCNH up 0.68% at 6.7757
- JPMorgan EM Ccy Index down 1.25% at 51.373
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.
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