The Mexican peso drifted early Wednesday during Asian market hours. Iran and Oman discussed a proposal to establish a temporary joint shipping route through the Strait of Hormuz.
Mexican President expressed optimism she can reach a trade deal with Trump as her chief negotiator leads talks in Washington, though the negotiation between the US and Canada fell apart.
The country's primary objective is leveraging the US–Canada rift to lower the current 50% tariff on steel and aluminium alongside the 25% automotive duty.
According to INEGI, Mexico's economy rebounded in Q2 from the previous three-month period, posting its strongest expansion since early 2022. That marks a shift from contraction in Q1.
Official data also showed that 12-month inflation rate accelerated in early August, reaching 3.26%. Persistent inflation coupled with signs of economic improvement tilt towards a rate hike.
Banxico held its interest rate earlier this month and its policymakers were inclined to keep its monetary policy unchanged for an extended period, according to minutes of the meeting.
EBC Financial Group analyst says that the Mexican peso entered overbought territory, but there were few strong reversal signals. The currency looked neutral to bullish, with immediate resistance around 16.92 per dollar.
Asset Recap
As of market close on 25 August, among EBC major products, AMD shares led gains after Raymond James upgraded the stock to Strong Buy from Outperform and raised its price target to $641 from $565.
Intuit forecast annual revenue below Wall Street expectations, as the TurboTax maker said its push for customer growth and market-share gains would weigh on near-term sales.
South Korea's stock market is becoming increasingly vulnerable to sharp swings as the traditional base of institutional investors shrinks, leaving retail traders and foreign investors as the dominant forces driving market direction.
A portfolio diagnostic is critical to managing tail risk. EBC Turbo leverages a proprietary scoring model to run a six-dimensional analytics scan within 5 seconds, mapping your risk-return dynamics and decoding your trading DNA.
EBC Financial Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Global Financial Collaboration or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Peringatan: Pendapat yang disampaikan sepenuhnya merupakan milik penulis dan tidak mencerminkan posisi resmi Followme. Followme tidak bertanggung jawab atas keakuratan, kelengkapan, atau keandalan informasi yang disediakan, serta tidak bertanggung jawab atas tindakan apa pun yang diambil berdasarkan konten ini, kecuali dinyatakan secara tertulis.
- AKHIR -