MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

CHINA PBOC CONDUCTS CNY66.1 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1358 WEDS VS 7.1334

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

PMIs indicate solid growth; less cost pressures from wage increases

MNI: UK JUL FLASH MANUFACTURING PMI 51.8 (FCST 51.0); JUN 50.9

Germany and France Underperform Wider EZ Again In July Flash PMI

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Peso Extending Intra-Day Recovery

MEXICO
  • Early pressure on the Mexican peso on Friday is subsiding as the latest move higher in core rates and a bounce for major equity indices are providing a more solid backdrop and have negated the need
  • For USDMXN, 18.80 has capped the topside today with the much firmer than expected January economic activity data aiding the latest peso recovery that has seen USDMXN trade back close to unchanged on the session. The next support to watch lies at 18.2397, the Mar 13 low. A break of this level would undermine the recent bullish theme and instead expose support at 17.8981, the Mar 9 low and a key short-term support.
  • Additionally, MXNJPY has completed a near 2% recovery from the lows to trade back above 7.00 after significant downward pressure throughout the overnight session.
  • US Secretary of State Antony Blinken’s claims that parts of Mexico are under control are false, Mexico’s President Andres Manuel Lopez Obrador said in a press briefing Friday.
  • Trade Data next week precedes the central bank decision on Thursday where analysts are currently forecasting Banxico to hike by 25bps. This would be in line with prior rhetoric of downshifting the pace of tightening and also concur with hawkish remarks this week from both Deputy Govenors Heath and Espinosa.
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.