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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
- Despite the earlier surge this week to 20.90 in USDMXN, the pair remains softer on the week, approaching support at 20.4618, Oct 7 low. MXN strength potentially being aided by the continued strength in MXNJPY – notably this pair has broken the August and September highs through 5.5580 overnight (shown below).
- Following yesterday's central bank minutes, differing views still evident among board members that voted 4-1 for the rate hike in September. Esquivel continued to categorise the tightening as "ineffective" in a scenario in which inflation was driven by supply shocks.
- Perhaps the more interesting comment came from another anonymous deputy governor. "He/she stated that, for the time being, no additional risks have materialized but it is very likely that a more complex scenario will be observed, which, under a preventive approach, would require a more aggressive adjustment".
- The potential for more aggressive action and the continued split views become more significant as we approach the end of the year and the transition of Governorship to Arturo Herrera.
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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