USD/MXN climbs sharply as traders prepare for a Fed rate hike in May – by christianborjon USDMXN EmergingMarkets Currencies
rom the emerging market currency increased, spurred by an almost certain case for a 25 bps rate hike by the Federal Reserve at the May meeting. At the time of writing, the USD/MXN is exchanging hands at 18.0719 after hitting a low of 17.9625.US equities fluctuate with market participants assessing Q1 earnings. Federal Reserve officials continued reinforcing their hawkish stance, though they failed to bolster the greenback., which tracks the performance of six currencies vs. the buck, drops 0.
The reasons behind the USD/MXN rise could be attributed to ebbs and flows. Estimates that the Bank of Mexico is about to end its tightening campaign weighed on the Mexican Peso. Additionally, a deceleration in inflation increased the odds for a Banxico’s pause. On the US front, the St. Louis Fed President James Bullard commented that the Fed should continue to raise rates as the latest tranche of inflation data proved to be stickier than estimated. “Wall Street’s very engaged in the idea there’s going to be a recession in six months or something, but that isn’t really the way you would read an expansion like this,” Bullard said.featured Building Permits and Housing Starts, which decreased by 0.80% MoM in March, after February’s 7.3% jump .
In the meantime, Federal Reserve’s expectations for the May meeting lie at an 86.7% chance for a 25 bps hike, according to the CME FedWatch Tool.said he favors one more rate hike and then a pause. Bostic commented that inflation would take some time to return to the Fed’s target and that his baseline does not foresee a recession.perspective, the USD/MXN is still downward biased. However, the recent leg-up could put up a test to the 20-day Exponential Moving Average at 18.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
USD/MXN soars above 18.0000 as Fed hints more hikes; rate cut expectations pushed backUSD/MXN soars above 18.0000 as Fed hints more hikes; rate cut expectations pushed back – by christianborjon USDMXN EmergingMarkets Currencies Macroeconomics Technical Analysis
Weiterlesen »
USD/MXN Price Analysis: Mexican Peso appears well-set for fresh 2023 high past 18.00USD/MXN Price Analysis: Mexican Peso appears well-set for fresh 2023 high past 18.00 USDMXN Technical Analysis ChartPatterns SwingTrading SupportResistance
Weiterlesen »
USD/MXN Price Analysis: Multiple Doji candlesticks challenge Mexican Peso traders near 18.00USD/MXN Price Analysis: Multiple Doji candlesticks challenge Mexican Peso traders near 18.00 USDMXN Technical Analysis ChartPatterns Candlesticks SupportResistance
Weiterlesen »
Dollar rebounds on higher expectations for Fed hike in MayThe dollar bounced from a one-year low on Monday as resilience in core U.S. retail sales, a rise in short-term inflation expectations and impressive Wall Street bank earnings raised market expectations for an interest rate hike in May.
Weiterlesen »
Dollar rebounds on higher expectations for Fed hike in MayThe dollar bounced from a one-year low on Monday as market expectations for an interest rate hike in May were raised.
Weiterlesen »
Forex Today: Expectations for May Fed Rate Hike IncreaseGreenback Opens Week Stronger; US 2-Year Treasury Yield Rises as May Hike Expected; Soft Commodities Rise, Sugar, Cocoa ETFs Near Multi-Year Highs.
Weiterlesen »