Free Trial

USDMXN Spike Fully Reverses

MEXICO
  • Tuesday’s steep Peso depreciation saw USDMXN spike to levels above 20.80 amid soaring US yields and the associated strength in the greenback. However, renewed optimism across global equity benchmarks on Wednesday provided firm support for the local currency and USDMXN has fallen roughly 2% since to trade close to unchanged on the week.
    • July consumer confidence fell to 41.3 this morning, from 43.6 in June.
    • Firm focus will be on Friday’s US jobs report and then turn to next week’s Banxico decision/statement.
  • Mexico’s Foreign Affairs Minister Marcelo Ebrard started a work tour to Peru, Bolivia and Colombia on Wednesday that will last until August 8 to strengthen cooperation with those countries, according to a Foreign Affairs Ministry statement.
  • Mexico’s National Hydrocarbons Commission (CNH) will hold an extraordinary session to discuss, among other topics, a Pemex authorization request to drill the Kela-1DEL well.

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.