MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: SNB CUTS KEY POLICY RATE BY 50 BPS TO 0.5%

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

MEXICO: USDMXN Extending Gains, Sell-Side Recommendations Adding Pressure

MEXICO
  • The Mexican peso remains under pressure and USDMXN has extended gains to 1.2% in recent trade, rising above 19.20. Amid the known domestic pressures, there have been some notable analyst comments overnight that may be adding pressure to domestic assets.
  • Most recently, Citigroup strategists have closed their overweight recommendation on the Mexican peso, citing yen strength and the Government’s plan for judicial reform as key components prompting the move. 
  • This adds to a report from Morgan Stanley overnight that downgraded Mexican stocks to underweight following the judicial reform proposal being sent to Congress. Analysts said that replacing the judicial system should increase “Mexico’s risk premia and limit capex,” which they view as a problem given nearshoring is reaching key bottlenecks.
EM BulletMexicoBulletGlobalEmerging Market NewsRegion
EM BulletMexicoBulletGlobalEmerging Market NewsRegion

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.