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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
- Broad strength in commodities amid a softer greenback is supporting LatAm currencies on Tuesday. Particular strength in oil prices is prompting outperformance in BRL and COP, both rising well over 1%.
- WTI crude futures have extended back above $80 and now resides at the best levels since November 10. Additionally, with equities bouncing well off their intra-day lows, emerging market fx is performing well with the JPMorgan emerging-market currency index up just shy of 0.5%.
- Underperforming regional peers is the Mexican peso, however, continued resilience is now placing pressure on short-term support levels for the pair.
- As noted, with the trend outlook remaining bearish, focus will be on 20.2517, Nov 9 low and 20.1196, Oct 26 low and a key support.
- Below gives key levels of LatAm markets in current trade:
- USDMXN down 0.02% at 20.3686
- USDBRL down 1.38% at 5.5917
- USDCLP down 0.66% at 830.41
- USDCOP down 1.17% at 4004.56
- USDPEN down 0.47% at 3.9156
- BBG Dollar Index down 0.24% at 1173.37
- JPMorgan EM Ccy Index up 0.46% at 52.91
- BBG Commodity Index up 1.4689 points (1.46%) at 102.3297
- WTI Crude Oil (front-month) up $2.62 (3.35%) at $80.88
- Gold is up $12.93 (0.72%) at $1814.65
- Copper Futures up 6.3 (1.45%) at 441.50
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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