MEXICO: USDMXN Slides Back to 19.60 Following Above Expectation Activity Data
Apr-25 13:13
- While maintaining a relatively contained range on the session, the firmer-than-expected economic activity data in Mexico has bolstered the peso, allowing USDMXN to gravitate back towards session lows below the 19.60 mark.
- CIBC don’t expect yesterday’s inflation prints to change Banxico’s dovish stance as the board focuses on the rapid deceleration in growth. Without concrete trade deals and with the MXN already up 4.5% so far in April, CIBC maintain their cautious view against adding to long MXN positions from current levels.
- BBVA note that MXN has not reacted to lower rates, but an accumulation of easing could eventually still weigh on the peso in the medium run.
- Trade balance data for March, as well as the unemployment rate are scheduled on Monday. However, the focus will likely be on Wednesday’s preliminary release of Q1 GDP. Q4’s print registered at -0.6% Q/q.
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UK DMO UPDATE: Remit Split
Mar-26 13:10
| Auctions | Syndications | ||
| Short | 110.9 | 37.1% | |
| Medium | 73.7 | 16 | 30.0% |
| Long | 26.7 | 13.5 | 13.4% |
| Linker | 20.4 | 10.5 | 10.3% |
| Unallocated | 27.5 | 9.2% | |
| Total | 299.2 | ||
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