- Mexican Peso begins the week on the back foot, driven by Fed Chair Jerome Powell disregarding Mexico's quiet Constitution Day shifts focus to inflation data and Banxico's upcoming rate decision.
- US's strong Services PMI and Nonfarm Payrolls hint at the Fed's achievable soft-landing.
- Expectations lean towards Banxico holding rates at 11.25%, with eyes on Fed speakers for more insights.
The Mexican Peso loses ground against the US Dollar (USD) courtesy of Federal Reserve Chairman Jerome Powell's interview during the weekend, sponsoring a jump in US Treasury bond yields. Along with a holiday in Mexico, that boosts the Greenback amid a risk-off impulse. At the time of writing, the USD/MXN exchanges hands at 17.21, up 0.51%.
Mexico´s economic docket is empty due to Mexico’s Constitution Day observance. This week, inflation data will be released on Wednesday, followed by the Bank of Mexico (Banxico) monetary policy decision, on Thursday. Rates are expected to remain unchanged at 11.25%.
In the meantime, the US economy continues to shine as the release of Services PMI by S&P Global and the Institute for Supply Management (ISM) showed that business activity is improving. That, along with last Friday's US Nonfarm Payrolls data, increases the odds of the Fed achieving a soft landing.
Meanwhile, some Federal Reserve speakers had begun to cross the wires following the Fed’s decision last Wednesday
- Mexican Peso begins the week on the back foot, driven by Fed Chair Jerome Powell disregarding Mexico's quiet Constitution Day shifts focus to inflation data and Banxico's upcoming rate decision.
- US's strong Services PMI and Nonfarm Payrolls hint at the Fed's achievable soft-landing.
- Expectations lean towards Banxico holding rates at 11.25%, with eyes on Fed speakers for more insights.
The Mexican Peso loses ground against the US Dollar (USD) courtesy of Federal Reserve Chairman Jerome Powell's interview during the weekend, sponsoring a jump in US Treasury bond yields. Along with a holiday in Mexico, that boosts the Greenback amid a risk-off impulse. At the time of writing, the USD/MXN exchanges hands at 17.21, up 0.51%.
Mexico´s economic docket is empty due to Mexico’s Constitution Day observance. This week, inflation data will be released on Wednesday, followed by the Bank of Mexico (Banxico) monetary policy decision, on Thursday. Rates are expected to remain unchanged at 11.25%.
In the meantime, the US economy continues to shine as the release of Services PMI by S&P Global and the Institute for Supply Management (ISM) showed that business activity is improving. That, along with last Friday's US Nonfarm Payrolls data, increases the odds of the Fed achieving a soft landing.
Meanwhile, some Federal Reserve speakers had begun to cross the wires following the Fed’s decision last Wednesday
风险提示：本文所述仅代表作者个人观点，不代表 Followme 的官方立场。Followme 不对内容的准确性、完整性或可靠性作出任何保证，对于基于该内容所采取的任何行为，不承担任何责任，除非另有书面明确说明。
暂无评论，立马抢沙发