- Mexico’s June mid-month consumer prices rose above estimates, which would likely deter Banxico from easing policy, on June 27.
- Headline inflation jumped from 4.70% expected to 4.78% YoY, though core prices edged lower from 4.31% to 4.17% YoY.
- Citibanamex survey showed economists priced out fewer rate cuts by the central bank, estimating rates will be lowered to 10.25% in 2024, up from 10.00%. Regarding the USD/MXN, the consensus estimates the exchange rate will end the year at 18.70, up from 18.00 in the previous report.
- Regarding economic growth, the consensus revised the Gross Domestic Product (GDP) for 2024 downward from 2.2% to 2.1% YoY.
- Last week’s Banxico’s verbal intervention underpinned the Mexican Peso as the USD/MXN hit an 11-day low. However, the Fed's hawkish comments weighed on the emerging market currency.
- CME FedWatch Tool shows odds for a 25-basis-point Fed rate cut at 59.5%, down from 61.1% last Monday.
إخلاء المسؤولية: الآراء الواردة هنا تعبر فقط عن رأي الكاتب، ولا تمثل الموقف الرسمي لـ Followme. لا تتحمل Followme مسؤولية دقة أو اكتمال أو موثوقية المعلومات المُقدمة، ولا تتحمل مسؤولية أي إجراءات تُتخذ بناءً على المحتوى، ما لم يُنص على ذلك صراحةً كتابيًا.
هل أعجبك هذا المقال؟ عبّر عن امتنانك بإرسال نصيحة للكاتب.
