USD MXN

Despite a reversal from two-year highs last week, bulls have continued to push in USD/MXN although the pair is notably lagging EUR/USD and USD/JPY for pricing in USD-strength over the past week.

The sustainability of the US disinflationary trajectory towards the Fed’s 2% inflation target will be tested today with the release of the June CPI indicator

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While USD strength has been the rage in many FX markets, the same can’t be said in USD/MXN where Banxico rates have kept the carry driving the short side of the pair for much of the past two years. But now there’s the threat of reversal.

Our longer-term gold forecast remains positive, owing to the fact global monetary policy can only start to loosen from here

Our longer-term gold forecast remains positive, owing to the fact global monetary policy can only start to loosen from here

Mexico’s mid-month CPI showed that inflation seems to be leveling off. However, the rate is still excessively high.

With inflation on the rise once again in Mexico, will Banxico deliver a hawkish 25bps hike?

Mid-month inflation data for January showed that CPI has increased in Mexico. Will Banxico continue to match the Fed’s rate hikes?

After reaching a peak of 8.70% in both August and September, Mexico’s CPI deceleration stalled in December at a reading of 7.82% YoY vs a November print of 7.8% YoY.

Mexico’s Core CPI print was lower than the previous month for the first time since early 2021.