Daily digest market movers: Expectations of uptick in Mexican inflation boosts Peso... dari hagijeee

09 Apr 2024, 01:35 · Views 104

The Mexican Peso rises on expectations that March’s inflation would rise above February’s data, suggesting that the Banxico could pause its easing cycle.
Mexico’s inflation forecasts for March expect the Consumer Price Index (CPI) to increase from 0.09% to 0.36% MoM and to 4.5% in the twelve months to March, up from 4.5%.
Core CPI is foreseen rising to 0.5% from 0.49% MoM, while yearly figures would edge lower to 4.62%, down from 4.64%.
US Treasury yields climb, though they fail to boost the Greenback, which is treading water as shown by the US Dollar Index (DXY). The DXY falls 0.10% to 104.18.
Market participants' expectations that the Fed would cut rates three times this year are waning, as shown by the CME FedWatch Tool. The odds for June edged below 52%, while for July they stood at 69%.

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