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Banxico Governor Sees Recovery Accelerating In Coming Quarters

MEXICO
  • Focus for markets will undoubtedly be on today's Fed meeting. The FOMC will use the July meeting to debate its strategy to taper asset purchases (including timing, pace, and composition).
  • USDMXN in very familiar territory trading either side of the 20.00 mark and searching for the next catalyst. Second quarter GDP will be released on Friday after economic activity figures came in slightly above expectations yesterday.
  • Banxico Governor Sees Recovery Accelerating In Coming Quarters
  • While risks remain with the pandemic, they have been gradually subsiding, central bank Governor Alejandro Diaz de Leon said in a presentation during a meeting with the national agricultural council:
    • Uncertainty on inflation and long-term global interest rates could generate volatility in international financial markets and impact capital flows to emerging economies.
    • Banxico board will take needed action for inflation to converge to 3% target. (BBG)

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