CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

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 Holding Majority of Tuesday Advance, CPI Thursday

MEXICO
  • A combination of factors significantly weighed on the Mexican peso on Tuesday, prompting USDMXN to briefly rise back above the 19.00 handle. The pair sits a little softer today, but is consolidating the bulk of yesterday’s rally. The primary driver has been developments surrounding judiciary workers taking part in a nationwide strike over the administration’s proposed judicial overhaul. Additionally, this week’s renewed JPY strength has been contributing as MXNJPY extends its pullback from the 8.00 highs last week.
  • Furthermore, weaker-than-expected retail sales data was released, which will not be welcome news to the central bank, who recently noted the downward risks to growth in the August Banxico statement. Focus now turns to Thursday’s final GDP reading and bi-weekly CPI figures.
  • Itaú noted that yesterday’s data is consistent with a slowdown of economic activity in 2Q24. Given the lower core inflationary gap and higher odds of the Fed starting its easing cycle in September, Itaú think Banxico will continue cutting its policy rate by 25bp in each of the remaining meetings of the year.
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.