USD/MXN continues its upward trend, reaching near 16.90 and marking gains for the fourth consecutive session on Tuesday.
USD/MXN gains ground on speculation of the Fed’s extending policy tightening. Banxico is expected to reduce its interest rate to 11.0% from 11.25%. US Dollar strengthens on improved US Treasury yields. Traders are awaiting Private Spending data on Tuesday and Retail Sales figures on Wednesday from Mexico. Furthermore, attention is on the Bank of Mexico's interest rate decision on Friday, with expectations of a 25 basis points reduction.
Despite Mexico's Industrial Production surging over twelve months, surpassing December's stagnant performance, this could bolster the hawkish stance of Banxico. Meanwhile, the US Dollar strengthens to near 103.90, driven by improved US Treasury yields at 4.73% and 4.32% for 2-year and 10-year US bond coupons, respectively. Investors eagerly await the interest rate decision from the US Federal Reserve , expected to be announced on Wednesday.
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.
USD/MXN edges higher to near 16.70 on speculation of Fed prolonging higher cash ratesUSD/MXN expands gains for the second consecutive day on Friday, bouncing back from the eight-month low at 16.64 reached on Thursday.
Read more »
USD/MXN buoys around 16.80 amid an improved risk appetiteUSD/MXN extends its losing streak that commenced on February 29 as the US Dollar (USD) weakens on improved risk appetite as market participants still believe that the Federal Reserve may reduce policy rates in June despite the US inflation data.
Read more »
USD/MXN moves sideways amid a risk-off sentiment, clings to near 16.70USD/MXN hovers around 16.70 during the European session on Monday, marking gains for the third consecutive day.
Read more »
NYC spending $387 per a migrant each day as Mayor Eric Adams tries to slash spendingNew York City is forking out an average of $387 per day to put up a single migrant household in taxpayer-funded shelters, the latest data from City...
Read more »
Arizona Auditor General releases school spending report for fiscal year 2023School district spending and teacher salaries increased, but instructional spending decreased
Read more »
Some grocery chains offer their own private brands to keep food prices downThis is additional taxonomy that helps us with analytics
Read more »