Daily digest market movers: Expectations of uptick in Mexican inflation boosts Peso
- The Mexican Peso rises on expectations that March’s inflation would rise above February’s data, suggesting that the Banxico could pause its easing cycle.
- Mexico’s inflation forecasts for March expect the Consumer Price Index (CPI) to increase from 0.09% to 0.36% MoM and to 4.5% in the twelve months to March, up from 4.5%.
- Core CPI is foreseen rising to 0.5% from 0.49% MoM, while yearly figures would edge lower to 4.62%, down from 4.64%.
- US Treasury yields climb, though they fail to boost the Greenback, which is treading water as shown by the US Dollar Index (DXY). The DXY falls 0.10% to 104.18.
- Market participants' expectations that the Fed would cut rates three times this year are waning, as shown by the CME FedWatch Tool. The odds for June edged below 52%, while for July they stood at 69%.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
No comment on record. Start new comment.