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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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Free AccessSummary 1/3 - Perfect Storm For MXN
A perfect storm yesterday and this morning sees USDMXN firmly back under 20.00 roughly 2% off highs made just yesterday. Clear driver was the delay of the contentious Banxico Bill. To recap:
Initial headlines:
- Mexican lawmaker Says ruling party open to change Banxico bill.
- Changes may include removing, capping Banxico obligation.
This was followed up by Senate Majority Leader Monreal:
- Mexico ruling party suggests Banxico bill debate in Jan.
- Debate would lead to reworked Banxico bill in February.
Lawmaker Laura Rojas confirmed the postponement. USDMXN was a touch heavy into the announcement but traded quickly down from 20.06 to 19.90 and has continued to trade lower this morning amid a softer US dollar and improved risk sentiment.
Today 10:30am Local: Central bank to offer 30b pesos of Cetes maturing in 91 to 658 days.To read the full story
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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.