US Dollar is gaining strength after Fed decision volatility. New York Fed’s Nowcast model predicts robust economic growth in third and fourth quarters. Fed expects financial conditions to remain loose, supporting the economy. The US economy is experiencing a moderate slowdown, but indicators suggest that economic activity remains robust overall. The Federal Reserve (Fed) has…
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…
The Pound Sterling outperforms its major peers as UK Retail Sales grew at a faster-than-expected pace in August Fears of UK inflation remaining persistent have deepened after an acceleration in price pressures coming from the services sector. The Fed is expected to continue an aggressive policy-easing cycle. The Pound Sterling (GBP) performs strongly against its major…
The Dow Jones clipped into yet another record bid on Tuesday. Investors are tilting into the risk-on side ahead of expected Fed rate cut. Markets are split on the depth of anticipated first Fed rate cut in over four years. The Dow Jones Industrial Average (DJIA) rose into a fresh record high for the second…
The Mexican Peso tardes slightly lower, extending the mild weakening from Monday. US Retail Sales data, the Fed policy meeting and BoE meeting are key events this week. USD/MXN forms a bearish “Three Black Crows” Japanese candlestick pattern. The Mexican Peso (MXN) edges lower on Tuesday morning after mildly retreating the prior day. This may be as…
The Dow Jones cracked a fresh all-time high during Monday trading. Despite the upside stretch, equities remain tepid overall. Investors are buckling down for the wait to Wednesday’s Fed rate call. The Dow Jones Industrial Average (DJIA) clipped into another record intraday bid to kick off the new trading week. The largest equities on the…
The Mexican Peso softens on Monday after three up days in a row. Increasing chances of deeper cuts to interest rates and slowing growth prospects had weakened the Peso’s peers. USD/MXN’s daily chart paints three down days in a row, a pattern called “Three Black Crows”. The Mexican Peso (MXN) trades moderately against its key…
Gold trades close to its $2,531 all-time-high amid expectations of the Fed cutting interest rates and a weak US Dollar. The size of the Fed’s cut at its September meeting will impact Gold. US CPI data on Wednesday could influence the Fed’s decision. Gold (XAU/USD) cycles back up towards the top of its three-week range,…
Mexican Peso dips over 1%; USD/MXN rises from 19.86 as Senate nears judicial reform vote. Foreign institutions and ratings agencies suggest economic risks and potential downgrade if reform is approved. Weaker-than-forecast inflation raises likelihood of Banxico rate cut on September 26; US Fed anticipated to cut rates by 25 bps soon. The Mexican Peso depreciated…
Gold price edges lower as USD benefits from reduced expectations of a 50 bps Fed rate cut. The downside remains limited as traders look to US inflation numbers for a fresh impetus. The technical setup supports prospects for a breakout through a short-term trading range. Gold price (XAU/USD) struggles to capitalize on the previous day’s…