DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USDMXN Narrows Gap With 50-day EMA

MEXICO
  • A modest downtick in USDMXN ahead of the Fed is in line with a slightly softer greenback on Wednesday. The pair is currently consolidating at the week’s lows around 20.40, with last week’s low at 20.3180 the nearest support of note which matches closely with the 50-day EMA.
    • If breached, the move lower would signal scope for a deeper pullback towards 20.00 initially.
  • Data: 1200BST/0700ET - June Revised Trade Balance, est. -1.2b, prior -2.22b
  • Local News:
  • President AMLO’s flagship Maya Train project will cost up to $20 billion, his second mega infrastructure project expected to run over budget amid setbacks and surging inflation.
    • Lopez Obrador announced a $15 billion to $20 billion price tag at a press conference Tuesday, which is as much as 70% higher than the $11.8 billion estimate the government had previously announced. (BBG)
  • AMLO also reiterated that a TC Energy gas pipeline being built with state utility CFE will cost $5 billion and will run from Tuxpan to Dos Bocas, and then via land to the Yucatan peninsula.
    • Foreign Minister Marcelo Ebrard said Mexico sees $40 billion in FDI by 2024, mainly in energy and electro-mobility. (BBG)
  • Grupo Sanborns SAB, a chain of retail stores controlled by billionaire Carlos Slim, is planning to delist from the Mexican stock exchange.
    • The move will make Sanborns the latest Mexican company to exit the nation’s exchange, which last year saw more de-listings than offerings. (BBG)
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.