US NOV FLASH MANUF PMI 48.8 (FCST: 48.9); OCT 48.5

MNI:Largest Canada New Home Price Dip Since `09 Led By Toronto

CANADIAN OCT FLASH RETAIL SALES +0.7%, 4TH STRAIGHT INCREASE

MNI China Daily Summary: Friday, November 22

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL NOV INDEX 71.8

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Banxico Expected To Cut Later This Month, US NFP Due At 1330GMT

MEXICO
  • The decline in CPI inflation in February has confirmed scope for Banxico to begin its easing cycle at its March 21 MPC meeting. Pantheon expect a 25bp cut this month due to the continued fall in CPI inflation and expect a trend of gradual easing this year. They note that unfavourable base effects may keep inflation in the 4-5% range through H1, but still see it ending the year at 3.8%. JP Morgan also think that the lack of any surprise in Feb CPI removes the last potential hurdle for Banxico to begin cutting rates later this month.
  • Data wise, the focus will be on US non-farm payrolls, coming up at 1330GMT(0830ET). Consensus is for payrolls growth to slow to 200k from January's bumper 353k reading, while the unemployment rate holds at 3.7%. There is nothing in the domestic calendar for today, with attention next week turning to Jan IP on Tuesday.
  • In other news, the finance ministry said that foreign direct investment could exceed $36 billion in Mexico this year, according to a report from Reforma.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.