MNI: PBOC Net Drains CNY248 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1996 Tue; -1.92% Y/Y

MNI: US NOV FINAL MANUF PMI 49.7 (FLASH 48.8); OCT 48.5

MNI NBP WATCH: Another Policy Hold, Dovish Communications Tilt

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI:AUSTRALIA Q3 CURR ACCT BALANCE -14149M

MNI: UK BRC NOV BY VALUE SHOP SALES LFL -3.4% YY, TOTAL -3.3% YY

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Peso Edges Higher, MXNJPY Eyes 2023 Highs

MEXICO
  • With major equity indices consolidating last week’s sharp recovery, the Mexican peso has been edging higher, re-asserting its resilience. While USDMXN declines have lacked momentum, it is worth noting the near 4% bounce for MXNJPY since last week, which significantly narrows the gap with the 2023 highs at 7.6498.
  • With notable levels in close proximity, MXN price action will be closely monitored this week. USDMXN continues to trade just above key support at 17.8981, the Mar 9 low. The outlook remains bearish and a break of 17.8981 would reinforce bearish conditions. A break would open 17.5746, the Aug 25 2017 low.
  • On the domestic docket this week, we have a multitude of tier-two data releases. These include April manufacturing PMI, remittances, job creation, unemployment rate and consumer confidence data.
  • On Tuesday, the central bank will publish its latest survey of economists before the May 18 central bank meeting/decision where the Banxico committee could signal the end of the tightening cycle.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.