MNI: PBOC Net injects CNY102 Bln via OMO Friday

MNI China Press Digest Feb 28: Copper, Consumption, A-shares

MNI: PBOC Sets Yuan Parity Lower At 7.1738 Fri; -0.99% Y/Y

MNI: Fed Can Be Patient, Policy Not Very Restrictive-Hammack

MNI: Fed's Schmid Says His Concerns Over Inflation Grow

MNI China Daily Summary: Thursday, February 27

MNI JAPAN JAN RETAIL SALES +3.9% Y/Y; DEC +3.5%

MNI JAPAN JAN FACTORY OUTPUT -1.1% M/M; DEC -0.2%

MNI JAPAN FEB TOKYO CORE CPI +2.2% Y/Y; JAN 2.5%

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MEXICO: USDMXN Edges Higher Amid Tariff Uncertainty, TIIE-F Swap Rates Decline

MEXICO
EM BulletMexicoBulletEmerging Market NewsNorth America
  • Despite the ongoing pressures at Pemex and broad greenback strength following the retraction of the tariff deadline extension by President Trump, the Mexican peso has remained relatively resilient today. USDMXN trades around the 20.50 level, just 0.3% higher on the day, below yesterday’s high at 20.55 and initial resistance at 20.7132, the Feb 05 high.
  • Pemex CFO Juan Carlos Carpio said that the reorganisation of the company will be finished in the coming weeks and that a business plan for the period through 2030 will be published by Q3.
  • In the Q4 earnings call, Carpio also said that state support for Pemex’s debt will continue and that the company is working with banks and the finance ministry on a plan to speed up payments to its suppliers.
  • Meanwhile, the finance ministry is considering how it may use Pemex’s debt ceiling for liability management operations.
  • TIIE-F swap rates are slightly outperforming, with yields down by a further 2-3bp, taking the decline in long-end yields over the last week, after the dovish tilt from Banxico, to over 25bp.
  • Following today’s increase in the unemployment rate to 2.7% in January, tomorrow’s public balance and net outstanding loans figures are unlikely to have a major impact on sentiment.
199 words

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.
  • Despite the ongoing pressures at Pemex and broad greenback strength following the retraction of the tariff deadline extension by President Trump, the Mexican peso has remained relatively resilient today. USDMXN trades around the 20.50 level, just 0.3% higher on the day, below yesterday’s high at 20.55 and initial resistance at 20.7132, the Feb 05 high.
  • Pemex CFO Juan Carlos Carpio said that the reorganisation of the company will be finished in the coming weeks and that a business plan for the period through 2030 will be published by Q3.
  • In the Q4 earnings call, Carpio also said that state support for Pemex’s debt will continue and that the company is working with banks and the finance ministry on a plan to speed up payments to its suppliers.
  • Meanwhile, the finance ministry is considering how it may use Pemex’s debt ceiling for liability management operations.
  • TIIE-F swap rates are slightly outperforming, with yields down by a further 2-3bp, taking the decline in long-end yields over the last week, after the dovish tilt from Banxico, to over 25bp.
  • Following today’s increase in the unemployment rate to 2.7% in January, tomorrow’s public balance and net outstanding loans figures are unlikely to have a major impact on sentiment.