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Global Macro
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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMid-Month Inflation Due Before Banxico Decision Thursday
- Late surge in TIIE swap rates yesterday across the curve reaching highest levels since April 2020. USDMXN probed back above 20.80 but has consolidated closer to 20.70 with the bounce in oil prices.
- Price action was more volatile in commodity linked G10 currencies yesterday, with USDMXN lacking momentum in either direction. Desks have noted that a large amount of FI hedges have been put on, which could weigh on the pair going forward.
- Mid-month inflation data and unemployment the focus today. So far 13/23 analysts are calling for an unchanged decision at tomorrow's Banxico decision. Our full preview will be published this afternoon.
- 1200GMT/0800ET – Bi-Weekly CPI - Estimate 0.31% m/m vs 0.31% Prior
- 1200GMT/0800ET – Bi-Weekly CPI - Estimate 3.90% y/y vs 3.68% Prior
- 1200GMT/0800ET – Bi-Weekly Core CPI - Estimate 0.20% m/m vs 0.18% Prior
- 1200GMT/0800ET – Mexico Feb Unemployment Rate NSA - Estimate 4.40% vs 4.73% Prior
To read the full story
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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.