Daily digest market movers: Mexican Peso strength unlinked to Foreign Direct Investment
- Mexico’s Consumer Confidence stood at 47.3 in March, below February’s 47.4.
- A Reuters poll published on April 4 reveals that most economists foresee the USD/MXN appreciating 4.7% to 17.38 in twelve months, down from 18.24 projected in the March poll.
- Ahead on Thursday, Banxico releases the latest meeting minutes.
- According to Dafne Viramontes, the president of the Aguascalientes College of Economists, from 2013 to 2017, FDI amounted to $180 billion, while in the first five years of Andres Manuel Lopez Obrador's presidency, it sank to $167 billion.
- US Initial Jobless Claims for the week ending March 30 rose by 221K, exceeding the consensus of 214K and last week’s 212K.
- The US Balance of Trade reported a $-68.9B deficit, more than the $-67.3B estimate and January’s $-67.6B.
- Philadelphia Fed President Patrick Harker commented that inflation is too high for rate cuts at present.
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