CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 477; GAS RIGS 103

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

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

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

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

Mexican Peso Buoyed Amid Firmer Risk, Softer Greenback

MEXICO
  • The relief rally in MXN has extended as firmer sentiment across global markets underpins the renewed optimism for the Peso. USDMXN tracks 0.85% lower since the open, ahead of the 0.55% move in the Bloomberg dollar index, extending further away from touted resistance between 21.00/10 reached last week.
    • May retail sales will cross on Thursday; however, Friday’s mid-month CPI readings will be the domestic focus on the calendar. For reference, the next Banxico decision is not until August 11.
  • Deputy Central Bank Governor Gerardo Esquivel wrote a series of tweets on Sunday, reiterating that setting the exchange rate isn’t a goal of monetary policy, but it’s a factor in decision-making.
    • Esquivel stated the Peso is among the most-stable currencies compared with the dollar.
    • There are pros and cons to relative strength: Imports and purchases for Mexican tourists abroad are cheaper, but Mexican goods abroad are more expensive.
    • Differential in interest rates, autonomous monetary policy, fiscal discipline and trade balance contribute to peso strength
  • In local news, Mexico confirmed the arrest of accused drug lord Rafael Caro Quintero, a founder of the Guadalajara Cartel who was on the FBI’s 10 most-wanted list over the torture and murder of a DEA special agent in 1985.
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.