USD/MXN refreshes day’s high above 17.20 as Banxico to continue its neutral stance – by Sagar_Dua24 USDMXN Fed DollarIndex RiskAversion Inflation
S&P500 futures have posted minimal losses, carry-forwarding bearish cues observed on Tuesday. The risk-aversion theme is in action as investors are worried ahead of Federal Reserve’s chair Jerome Powell's testimony. The USPowell’s testimony will remain in focus. Fed Powell is expected to deliver hawkish guidance as core inflation in the United States is still showing persistence.
Apart from the Fed Powell’s testimony speech from the latest Fed nominees will also be in focus. Fed Governor Lisa Cook and vice chair Philip Jefferson have backed taming sticky inflation. Meanwhile, headlines that China is preparing a military training facility in Cuba against the US have put investors on their toes.by the Bank of Mexico , which will be announced on Thursday. A poll from Reuters shows that Banxico will keep interest rates steady consecutively for the second time. Till now, the central bank has hiked interest rates to 11.25%. Investors should know that Mexican inflation has already softened to 5.84% in May than its annual peak of 8.7%.
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