Daily digest market movers: Mexican Peso slips post inflation report
- Mexico’s CPI rose 0.29% MoM, according to the National Statistics Agency (INEGI). This was lower than the expected 0.36% increase and higher than the 0.09% rise noted in February.
- Core inflation registered a rise of 0.44%, which was lower than the 0.51% that economists had forecast and below the 0.49% increase in February.
- US Treasury bond yields plunged sharply, with the 10-year benchmark coupon down six basis points to 4.362%. Consequently, the US Dollar Index (DXY) remains virtually unchanged with the DXY standing at 104.14, up by a minimal 0.02%.
- Market participants' expectations that the Fed would cut rates three times this year remain volatile, according to the CME FedWatch Tool. The odds for June edged from 52% to 57.7%, while for July, they stood at 74%.
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