MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

MNI BRIEF: China State Planner To Increase Trade-in Support

MNI China Daily Summary: Thursday, July 25

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

US EIA:NAT GAS STORAGE +22 BCF TO 3,231 BCF JUL 19 WK

Core Goods Pipeline Pressures Pick Up On 3m/3m Basis

Aircraft-Led Durables Collapse Masks Rebound In Core Orders

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

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

USDMXN Extends Advance, Q4 Aggregate Supply And Demand Due

MEXICO
  • The Mexican peso is continuing to underperform on Tuesday on the back of further dollar strength, with USDMXN +0.50% at the time of writing. USDMXN is likely to remain in focus as we approach interest rate decisions in the US and Mexico this week, with Banxico broadly expected to start its easing cycle with a 25bp cut on Thursday. As noted previously, support for USDMXN at 16.6262 has held well. On the upside, initial resistance at 16.8969 has been breached this morning and a clear reversal higher would refocus attention on 17.3860, the Jan 17 high.
  • On the data front, aggregate supply and demand data for Q4 will be released at 1200GMT (0800ET). Meanwhile, the second Mexico Nearshoring Summit starts in Mexico City today. The event will include discussions on how Mexico can guarantee the availability and affordability of energy for manufacturing growth and the future of the automotive industry.
  • In other news, the government is preparing to take control of a quarry and port owned by Vulcan Materials on the Caribbean coast, after long-running negotiations failed to produce a buyer. AMLO said that he expected it to be resolved in the next few days.
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.