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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.
MEXICO
- Nothing headline related, Peso continued to be very well supported on dips and USDMXN been slowly edging lower.
- Move now extending through overnight 20.2382 lows, potentially setting up a more sustained move through previous 20.25 support dating back to November 2021. 20.1196 is the next target before 11.85, the September 2021 lows.
- Equally, there may be some catch-up dynamics in play as the Peso has been underperforming its regional counterparts in recent weeks. Overnight, Mexico analysts in the latest Citi survey adjusted their 2022 year-end exchange rate forecasts to 21.38 from 21.50 MXN/USD.
- Bi-weekly inflation print tomorrow could be important for Banxico, who although likely to mirror the Fed's March decision, could be pressured into another 50bp move if core inflation significantly surprises to the upside once more. The next Banxico decision is due March 24.
- Final GDP and economic activity readings are due Friday.
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.
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