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…
The Mexican Peso makes tepid gains following the Bank of Mexico (Banxico) meeting. The bank decided to cut interest rates by 25 bps and revised down its forecasts for inflation. USD/MXN steadily climbs within its rising channel. The Mexican Peso (MXN) edges higher in its major pairs on Friday, a day after the Bank of Mexico (Banxico)…
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…
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 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…
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…
The Mexican Peso extends its downtrend but appears to be finding a floor. The weakness of rivals, such as the US Dollar, as well as uncertainty over the direction of Mexico’s monetary policy are supportive factors. USD/MXN steadily rises in a mildly bullish channel. The Mexican Peso (MXN) trades flattish and mixed on Monday after…
Mexican Peso rallies sharply with USD/MXN falling over 2%. Mexico’s economy shows mixed signals, with Q2 GDP growth at 2.1% YoY but a contraction in economic activity, as Banxico debates the appropriateness of recent rate cuts. Powell’s speech at Jackson Hole hints at upcoming rate cuts. The Mexican Peso rallied sharply against the Greenback on…