MEXICO: Government Consulting On Tariff Response, USDMXN Falls To New 2025 Low
Mar-13 14:31
- Speaking during President Sheinbaum’s daily press conference earlier, Economy Minister Ebrard said that the government is holding a consultation process with companies as it considers possible tariff tools in the face of the April 2 deadline.
- Noting that tariffs on aluminium and steel are a bad idea, he said that the government will use any tools necessary to find the best solution for the country.
- USDMXN has extended the move lower in recent trade, piercing key support at 20.1343, to reach a new 2025 low of 20.0776 at typing.
- Separately, newswires are running comments from Banxico’s Mejia, which appear almost identical to his comments made yesterday on a Banorte podcast. He indicates the committee are weighing the potential impact of tariffs on the recalibration of monetary policy, and that the peso continues to act in an orderly manner.
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STIR FUTURES: Large March'25 SOFR Selling
Feb-11 14:27
- Appr -24,000 SFRH5 at 95.710 (+0.0), appr DV01 $600,000. Trades 95.705 last (-0.005)
EQUITIES: US Cash opening calls
Feb-11 14:27
SPX: 6,046.1 (-0.3%); DJIA: 44,334 (-0.3%/-137pts); NDX: 21,624.9 (-0.6%).
JPY: FX Exchange traded Option
Feb-11 14:26
JPYUSD (7th Mar) 65.00p, sold at 0.03 in ~5.3k.
