MNI: PBOC Net Drains CNY156.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1877 Fri; -1.39% Y/Y

MNI BRIEF: Japan Nov Factory Output Hits 2nd Straight Rise

MNI BRIEF: China May Inject CNY1 Trln To Replenish Big Banks

MNI BRIEF: China Sees Progress On EU EV Deal

MNI: PBOC Net Drains CNY279.8 Bln via OMO Thursday

MNI JAPAN NOV TOKYO CORE CPI +2.2% Y/Y; OCT +1.8%

MNI: GERMANY NOVEMBER FLASH HICP -0.7% M/M (FCST: -0.5%)

MNI: GERMANY NOV CPI +2.2% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

USDMXN Prints Fresh Six-Month Lows At 16.75

MEXICO
  • Price action following the US CPI data saw USDMXN have a moderate bounce above 16.85, however, the ongoing grind lower for the pair has since ensued. Spot is now breaching below last week’s lows and is notably back below the key support level of 16.7852, the Jan 8 low. A clear break of this level would confirm a resumption of the downtrend and opens 16.6262, the Jul 28 2023 low. Initial resistance moves down to 16.9485, the 20-day EMA.
  • Analysts continue to point to the usual themes of high real rates, low volatility and the near-shoring thesis as bolstering the bullish MXN call. There are no domestic data points in Mexico for the rest of this week, which will leave global drivers in the front seat as we approach the March Banxico decision on March 21. Initial analyst estimates point to the central bank initiating the easing cycle with a 25bp rate cut to 11.00%.
  • In local news, the government has revoked two clean energy permits known as “certificados de energia limpia” benefiting the country’s Federal Energy Commission (CFE), Bloomberg Linea reported citing government documents.
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.