USD/MXN maintains early gains amidst low liquidity, traders brace for Powell’s Congress appearance – by christianborjon USDMXN Currencies EmergingMarkets Macroeconomics
USD/MXN stays strong despite a slight retreat; lower European equities dampen market sentiment.
Bank of Mexico is likely to keep rates unchanged; inflation trends are set to influence future rate decisions. Investors are cautious about Powell’s address to Congress, as Fed hints at possible rate hikes and the Mexican Peso at the mercy of Banxico’s decision During the week, traders would remain focused on the Federal Reserve Chair Jerome Powell’s appearance at the US Congress on Wednesday and Thursday. Nevertheless, most market participants estimate he would not change his latest press conference tone after he and his colleagues held rates unchanged at 5.00%-5.25%.still has ammunition for at least 50 bps rate hikes toward the year’s end, according to the Summary of Economic Projections dot plots. More than half of the Fed members see rates above 5.
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