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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.
MEXICO
- USDMXN will extend its winning streak to five days on Monday as the move to the upside has been accelerating since late last week. After finding support at the 100-day moving average around 20.12, overall greenback strength has prompted a significant reaction in USDMXN, in the face of rising equity indices.
- The deterioration in the Mexican peso has seen a sharp bid in EURMXN today, rising 1.77% and to a four-month high for the pair.
- Last week's weaker-than-expected activity data, followed by a negative Q3 GDP print have bolstered MXN headwinds. The data does raise questions for a continued data-dependent central bank board – although the most recent inflation expectations will likely keep another quarter point hike as the most likely outcome from Banxico next week.
- Developments to closely monitor as we approach the end of the year remain President AMLO's energy reform as well as the upcoming Banxico governorship transition
MNI/Bloomberg
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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