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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.
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Free AccessFormer Banxico Deputy Governor Speaks, USDMXN Downtrend Remains In Place
- With the US out on MLK Day today and the data calendar remaining light, the Mexican peso has had a quiet start to the week, trading broadly flat against the USD since the open. Nonetheless, after the peso showing resilience in the face of stubborn US inflation data last week, the downtrend in USDMXN looks to remain in place and the short-term focus is still on 16.6262, the Jul 28 low.
- In terms of data, nominal wages figures for December (+11.6% y/y in November) will be published at the start of this week. The focus will be more on Friday’s November retail sales data, however, with growth there expected to hold around 3.5% y/y. Meanwhile, the Morena ruling party’s presidential candidate Claudia Sheinbaum will deliver a speech in Mexico City at 1600GMT (1100ET) today. Former Banxico deputy governor Gerardo Esquivel will also speak at a Sheinbaum campaign event later in the day (2200GMT/1700ET).
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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.