Mexican Peso hovers near the 50-day SMA at 20.11, with the USD/MXN showing minimal movement after US PMIs data. Banxico is widely anticipated to cut rates following encouraging November inflation figures, with most economists predicting a 25 bps reduction. Anticipation builds around upcoming rate decisions from the Fed and Banxico. The Mexican Peso begins the…
Mexican Peso appreciates 0.50% against the Dollar following a week of mixed US data, bolstering Fed rate cut odds. Light economic docket sees US Import Prices rise slightly, while Export Prices decline in November. Upcoming decisions by the Fed and Banxico next week could further influence USD/MXN. The Mexican Peso recovered after registering losses on…
Mexican Peso makes a late session recovery, supported by strong Q3 GDP figures and lower mid-month inflation. Concerns linger as Mexico’s legislative changes could impact its status in the USMCA agreement, potentially affecting trade dynamics. Banxico Governor indicates readiness to cut rates further if inflation trends continue downward, influencing Peso’s strength. US economic data, including…
Mexican Peso continues its upward trend for the fourth consecutive day amid favorable risk sentiment. Banxico’s recent rate cut to 10.25% reflects ongoing inflation concerns with forecasts adjusted to 4.7% end for 2024. Moody’s adjustment of Mexico’s credit outlook to negative highlights potential fiscal and economic challenges from judicial reforms. Traders monitor potential impact of…
Mexican Peso tanks as USD/MXN rises over 1.50% weekly, reaching new yearly highs. US Dollar Index climbs as Treasury yields jump, boosting Greenback strength. Mexican economic data shows resilience, but US elections add uncertainty for emerging market currencies. The Mexican Peso depreciated sharply against the Greenback on Friday and recorded new yearly highs of 20.29,…
Mexican Peso gained 0.90% earlier on Friday but erased gains amid a weaker US Dollar. US Dollar Index hit a two-month high before retreating to 103.48, down 0.23% on Friday. China’s stimulus measures provided brief support to the Peso. The Mexican Peso remained firm against the US Dollar on Friday yet erased earlier gains, which…
Mexican Peso hits a six-day bottom on Bostic comments. Banxico minutes reveal concerns over Mexico’s slowing economy and sticky service inflation, hinting at more rate cuts. US inflation data came in slightly higher than expected, but weaker jobs data tempered the possibility of aggressive Fed cuts. The Mexican Peso lost some ground against the Greenback…
Mexican Peso extended its losses for the second straight day as USD/MXN hit a 19.74 peak. Banxico cuts rates to 10.50%, weakening the Peso as economic activity cools and inflation projections rise for 2024. US PCE inflation edged lower, but core PCE remains within the Fed’s comfort range of 2%-3%. The Mexican peso lost steam…
Mexican Peso declines as USD/MXN climbs over 1.80%, driven by expectations of further Banxico rate cuts. Cooling inflation in early September bolsters the case for a Banxico rate reduction at the September 26 meeting. Bloomberg survey: 20 of 25 analysts expect Banxico to cut 25 bps to 10.50%, with some predicting a 50 bps reduction….
Mexican Peso continues to weaken, recording losses for three consecutive days amid increasing risk aversion. Fed Governor Waller supports the recent 50 bps rate cut, pointing to easing inflation and hinting at further cuts if labor conditions deteriorate. Banxico anticipated to lower rates by 25 bps next week, potentially sustaining an appealing interest rate differential…