USD/MXN

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Bank notes of different currencies

Bank of Mexico hikes rates by 75bps, as expected. USD/MXN at lowest level since March 2020.

The Bank of Mexico stuck to the script and hiked rates by the same amount as the US Federal Reserve, 75bps, to bring its overnight rate to 10%.

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November 10, 2022 08:02 PM
Bank notes of different currencies

Mexico CPI due out tomorrow, but does it matter?

Banxico has been hiking rates at the same pace as the Fed since the beginning of summer, most recently with a 75bps rate hike last week.

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October 6, 2022 05:20 PM
Bank notes of different currencies

Mexico CPI due out tomorrow, but does it matter?

Banxico has been hiking rates at the same pace as the Fed since the beginning of summer, most recently with a 75bps rate hike last week.

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October 6, 2022 05:20 PM

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Bank notes of different currencies

Mexico inflation higher, again! USD/MXN

Mexico’s CPI continues to climb. As such, so does the value of the Peso.

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September 8, 2022 05:24 PM
Bank notes of different currencies

Mexico CPI continues to rise; rate hikes not helping yet

The headline mid-month inflation rate for July is 8.16% YoY , led primarily by rising food costs. This is the highest level of inflation in 21 years!

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July 22, 2022 04:14 PM
Board of currencies

EM FX: Turmoil in emerging currencies pose big risk to markets

It is worth watching EM currencies closely here as there is a risk we could see further, sharp, selling, which, in turn, could provide a fresh source of threat to the global financial markets.

Bank notes of different currencies

Bank of Mexico hikes 75bps after higher inflation reading

Will USD/MXN continue lower? It may depend on whether the central bank decides to hike another 75bps at its August meeting!

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June 24, 2022 03:57 PM
Bank notes of different currencies

Bank of Mexico hikes 75bps after higher inflation reading

Will USD/MXN continue lower? It may depend on whether the central bank decides to hike another 75bps at its August meeting!

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June 24, 2022 03:57 PM
Bank notes of different currencies

USD/MXN looking to push to pre-pandemic lows

Both a hawkish Bank of Mexico and the rise in Crude Oil prices have been pushing USD/MXN lower.

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June 7, 2022 04:36 PM
Bank notes of different currencies

Mexico CPI still coming in hot; USD/MXN near key support

USD/MXN is caught between a long-term support zone and the downward sloping trendline of a long-term descending triangle.

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April 7, 2022 08:01 PM
Bank notes of different currencies

Banxico hikes rates 50bps; USD/MXN testing key support

The Central Bank of Mexico increased interest rates by 50bps and revised its inflation forecasts higher. However, it seems that USD/MXN traders were already expecting it!

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March 25, 2022 02:36 PM
Bank notes of different currencies

Mexico inflation highest in nearly 20 years!

Banxico, has been hiking interest rates at 25bps clips. However, inflation is rising even faster!

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December 9, 2021 08:38 PM
Bank notes of different currencies

Banxico only hikes 25bps despite inflation readings

Inflation data showed that the October YoY CPI was 6.24%

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November 11, 2021 10:50 PM
Bank notes of different currencies

Inflation and Banxico: USD/MXN

Inflation data on Tuesday may determine whether the Bank of Mexico hikes rates by 25bps or 50bps on Thursday.

Bank notes of different currencies

Mexico’s inflation continues to rise despite interest rate increases USD/MXN

The YoY headline inflation number for mid-month October rose to 6.12% from 5.87% in September

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October 22, 2021 04:36 PM

USD/MXN reclaims key level

The USD/MXN is another EM currency pair we are monitoring after we identified bullish characteristics on the USD/INR and USD/CNH previously.

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March 27, 2019 11:40 AM

Results Are In: Trump Wins, Markets Plunge then Rebound

It appears that polls and projections in the past few days and weeks have turned out to be severely inaccurate in predicting the outcome of the 2016 US presidential election. After a long and heart-pounding election night, Donald Trump achieved a market-shocking upset by pulling ahead from behind and ultimately defeating Hillary Clinton to become the new President-elect of the United States. Additionally, Republicans retained control in both the US Senate and House of Representatives for a clean GOP sweep.

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Markets Gap on Likelihood of Clinton Win

Stock markets, the dollar, gold, and the Mexican peso all reacted sharply over reports on Sunday that the FBI has not discovered any further incriminating evidence in its re-launched review of Presidential Candidate Hillary Clinton’s past emails. FBI Director James Comey wrote in a letter to Congress, “based on our review, we have not changed our conclusions that we expressed in July with respect to Secretary Clinton.” In July, the FBI had stated that it would not pursue charges against Clinton over her use of a private email server when she was US Secretary of State.

Mexican peso falls as Trump's prospects rise

Despite a generally ailing US dollar on Tuesday due in part to heightened risk imposed by next week’s elections, the greenback rose sharply against the Mexican peso as Donald Trump’s presidential prospects continued to be lifted by Hillary Clinton’s ongoing email troubles.

US Presidential Election: Final Debate Aftermath

With the dust having settled after Wednesday’s final US presidential debate of the 2016 campaign between Donald Trump and Hillary Clinton, the results have become rather apparent. Although Trump came out relatively stronger and more steadfast than usual during the first half of the debate, his remarks and demeanor quickly deteriorated in the latter half, leaving many to declare Clinton as the clear winner.

US Presidential Election: Potential Market Impacts

After 1) a first presidential debate in which Hillary Clinton was seen to have secured a major win over Donald Trump, 2) a vice-presidential debate where the Republican ticket gained back some ground with its supporters, 3) a scandalous revelation regarding a lewd tape of Trump’s self-professed “locker room talk” years ago, 4) a second presidential debate with mixed results for both Clinton and Trump, 5) a withdrawal of support for Trump by some prominent Republicans like House Speaker Paul Ryan, and 6) a release of additional hacked Clinton emails that could further damage the Democratic ticket, Clinton appears by most accounts to be leading the race with an increasingly wider margin.

US Election Trade: USD/MXN plunges as Trump's peso pressure eases

When it comes to currencies, the highly-touted “Trump Trade” has revolved largely around the Mexican peso. It has been no secret that US Presidential Candidate Donald Trump’s heavily protectionist trade policies, not to mention his stance on immigration, have targeted Mexico in particular. Besides proposing to build a wall between the US and Mexico, Trump has also repeatedly expressed his staunch opposition to the North American Free Trade Agreement (NAFTA) and has proposed broad restrictions on both Chinese and Mexican imports. The result has been increasing speculation that if Trump is seen to win the presidency, the Mexican peso could suffer dramatically against the US dollar.

USD/MXN bears need a Peso-maker after this year’s start

As we’ve noted repeatedly over the first trading week, emerging market currencies have been getting walloped as panicked FX traders sell any holdings they see as risky for the perceived safety of the US dollar and Japanese yen. As the chart at the bottom of this report shows, the Mexican peso has certainly not been spared from the EM FX massacre.