CLP: USDCLP Clears Key Short-Term Resistance Following BCCh Cut
Jul-30 13:33
USDCLP gapped higher at the open, clearing a key short-term resistance at 972.83, the Jul 14 high, in the process. The break confirms a resumption of the recovery that started Jul 2 with scope now seen for an extension towards 987.67, the 76.4% retracement of the sell-off between Apr 9 - Jul 2.
- The BCCh rate cut yesterday evening has underpinned peso weakness – albeit the 25bp cut to 4.75% was widely expected – while the climb in the USD Index to new cycle highs has weighed on all major USD/Latam pairs.
- The Board’s more dovish tone on inflation risks means most sell-side analysts generally expect the easing cycle to continue at the next rate-setting meeting in September, with some expecting a further 25bp cut before year-end.
- Our full of the July rate decision, with a summary of sell-side views, can be found here.
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EQUITIES: US Cash Opening calls - Set for new record highs
Jun-30 13:28
US Cash Opening calls, set for new record highs.
SPX high on Friday was at 6187.68, NDX 22,603.22
- Calls: SPX: 6,207.5 (+0.6%); DJIA: 44,124 (+0.7%/+305pts); NDX: 22,700.8 (+0.7%)
STIR: Effective Fed Funds Rate
Jun-30 13:11
- FRBNY EFFR for prior session:
- Daily Effective Fed Funds Rate: 4.33% (+0.00), volume: $122B
- Daily Overnight Bank Funding Rate: 4.33% (+0.00), volume: $262B
- Repo Reference Rates released earlier
- Secured Overnight Financing Rate (SOFR): 4.39% (-0.01), volume: $2.775T
- Broad General Collateral Rate (BGCR): 4.37% (-0.01), volume: $1.083T
- Tri-Party General Collateral Rate (TCR): 4.37% (-0.01), volume: $1.058T
- (rate, volume levels reflect prior session)
MNI: HAPPENING TODAY: Livestream MNI Connect with Atlanta Fed Bostic At 1000ET
Jun-30 13:00
You are invited to listen to a Livestreamed MNI Connect Video Conference with Federal Reserve Bank of Atlanta Raphael Bostic.
Details below:
- Speaker: Raphael Bostic, Federal Reserve Bank of Atlanta President
- Topic of discussion: 'The US Economic Outlook'
- DATE: Mon, 30 Jun 2025
- TIME: 15:00 - 16:00 BST
- This event is on the record and will run as a Zoom Webinar
To register please go to: MNI Webcast Registration
