FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

MXN On Backfoot Ahead Of Banxico Meeting

MEXICO
  • The Mexican peso remains on the backfoot on Wednesday, amid a firmer greenback, with USDMXN rising by ~0.6% to around 18.20. The current bull cycle in USDMXN remains in play and initial support to watch moves up to 18.01, the 20-day EMA.
  • With no macro data due today, attention is on tomorrow’s Banxico monetary policy meeting. Most analysts expect Banxico to keep its overnight rate unchanged at 11.00%, with some seeing an outside chance of a 25bp cut. Post-election market turbulence, the sharp depreciation of the peso and a cautious Fed skews the risks firmly towards another hold. However, with the minutes of the May meeting suggesting a June adjustment may be considered, the downside surprise for core CPI in May and the high level of restrictive policy, Thursday’s decision is not set in stone.
    • The full MNI preview with analyst views is here.
  • In other news, Pemex was given a deferral of its monthly tax payment, according to a decree published Tuesday evening. Pemex will be allowed to defer until July 31 a May payment that was coming due this month.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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.