The Mexican Peso (MXN) recovers most of the losses it endured after the Bank of Mexico (Banxico) meeting on Thursday.
The Mexican Peso recovers the losses made following the Banxico meeting on Thursday. A change in the distribution of voting and language of the statement suggests a higher change of interest-rate cuts in the future. USD/MXN trades in volatile ups and downs with no clear trend in the short-term. The Mexican Peso recovers most of the losses it endured after the Bank of Mexico meeting on Thursday. Banxico decided to leave interest rates unchanged at 11.
New language was added about economic activity slowing down, including “the balance of risks to growth of economic activity is biased to the downside”. The same mention of slowing activity preceded the interest-rate cut in March, according to economists at advisory service Capital Economics. Further, Banxico added that it saw scope for, “discussing reference rate adjustments”.
Technical Analysis Fundamental Analysis SEO
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mexican Peso bottoms out as Obrador says Peso is backed by “strong economy”The Mexican Peso (MXN) seesaws between tepid gains and losses on Thursday after bottoming out at an 18-month low due to politically-inspired market jitters.
Read more »
Banxico Governor assures market stability amid Mexican Peso volatilityBank of Mexico (Banxico) Governor Victoria Rodriguez Ceja commented on Wednesday that the central bank has the tools to intervene in the markets and restore market order after the Mexican Peso depreciated more than 9% following the June 2 election.
Read more »
Mexican Peso climbs as Banxico hints at readiness to interveneThe Mexican Peso recovered some ground on Thursday and appreciated 0.93% following a verbal intervention by the Bank of Mexico (Banxico).
Read more »
Mexican Peso plummets as Sheinbaum and AMLO reaffirm judiciary reform plansThe Mexican Peso freefall continued Tuesday, following virtual President-Elect Claudia Sheinbaum’s press conference on Monday, during which she reassured voters the judiciary reform is a go, raising investors' fears as the USD/MXN soared.
Read more »
Mexican peso weakens as next president vows to forge ahead with 20 reformsThe Mexican peso has continued to weaken as Mexico's outgoing president _ and his successor _vowed to forge ahead with some 20 constitutional changes that have rattled investors.
Read more »
Mexican peso weakens as next president vows to forge ahead with 20 reformsThe Mexican peso has continued to weaken as Mexico's outgoing president _ and his successor _vowed to forge ahead with some 20 constitutional changes that have rattled investors.
Read more »