CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

MNI: BAKER HUGHES US RIG COUNT 581; OIL RIGS 479; GAS RIGS 97

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

EZ/UK Bond Supply Calendar: BoE APF on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

Greenback Remains Underpinned By Sliding Equities, Weighs on MXN

LATAM FX
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
  • The extension lower for major equity indices and higher long-end treasury yields continue to underpin the greenback bid on Wednesday. With risk sentiment dented, emerging market currencies are notably feeling the pinch and USDMXN has now extended its bounce from yesterday’s lows to roughly 1.8%.
  • Price action narrows the gap to initial resistance of 17.00 and this latest recovery appears to be a technical correction - for now. Markets need no reminder that the June 02 presidential election looms closer and some analysts noted yesterday that they envision MXN coming under some pressure.
  • BBVA said that with the elections fast approaching, uncertainty may weigh on Mexican assets, stating there is a tail risk of a supermajority being elected in congress that could open up the risk of constitutional reform.
128 words

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.
  • The extension lower for major equity indices and higher long-end treasury yields continue to underpin the greenback bid on Wednesday. With risk sentiment dented, emerging market currencies are notably feeling the pinch and USDMXN has now extended its bounce from yesterday’s lows to roughly 1.8%.
  • Price action narrows the gap to initial resistance of 17.00 and this latest recovery appears to be a technical correction - for now. Markets need no reminder that the June 02 presidential election looms closer and some analysts noted yesterday that they envision MXN coming under some pressure.
  • BBVA said that with the elections fast approaching, uncertainty may weigh on Mexican assets, stating there is a tail risk of a supermajority being elected in congress that could open up the risk of constitutional reform.