News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Fed's Brainard: - Valuations "are elevated in a number of asset classes relative to historical norms" - Variety of risks related to the virus could result in a sudden change in investor risk sentiment #Fed $SPY $QQQ
  • Fed's Brainard: - Pandemic showed flaws in financial system - Need to consider reforms to protect against future shocks #Fed $USD
  • Fed's Brainard says stress that emerged in treasury markets may suggest need for standing repo or other changes
  • BoE's Ramsden: - Contingency planning is very different from thinking negative rates will be used - We want to be in a position that if things don't improve like our forecasts say, the tool of negative rates can be feasibly used if necessary #BoE $GBP
  • Heads Up:🇺🇸 Fed Brainard Speech due at 14:05 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-03-01
  • Heads Up:🇺🇸 Fed Williams Speech due at 14:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-03-01
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.84%, while traders in France 40 are at opposite extremes with 67.81%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xGzM0SUjeR
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into start of the week / month! https://t.co/chKtG7waxH
  • wrote up the $Gold forecast for this week, a major level already in-play ~1725. #NFP the big item on the calendar, but lots of space on the chart until Friday https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2021/02/27/Gold-Price-Forecast-XAU-Tanks-Hard-as-Yields-Inflation-Fears-Climb.html https://t.co/xrlEzFbspb
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.58% 🇦🇺AUD: 0.46% 🇳🇿NZD: 0.22% 🇪🇺EUR: -0.16% 🇯🇵JPY: -0.16% 🇨🇭CHF: -0.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/0epJpm4UcD
MXN Spikes Following CPI Announcement

MXN Spikes Following CPI Announcement

Michael Romero,

Talking Points:

• MXN Soars Shortly After CPI Announcement.

• CPI Falls Further Then Leading Analyst’s Expectations.

The MXN rose shortly after the Consumer Price Inflation (CPI) announcement by the National Institute of Statistics and Geography. Mexican Consumer Price Inflation CPI, the weighted average of prices of consumer goods and services, crossed the wire below leading economists’ expectations of 4.12 percent and registered at 4.08 percent year-on-year, but below November’s reading of 4.17 percent, according to the National Institute of Statistics and Geography (INEGI). Compared to 2013 CPI actually increased .11 percent up from 3.97 percent in December 2013, possibly stemming from higher energy costs and the low interest rate environment that was introduced by the Central Bank to combat sluggish economic growth. CPI month-on-month also dropped significantly from the previous month’s reading of .81 percent to .49 percent, falling short of expectations of .51 percent. The government which sets fuel and energy prices actually increased fuel prices by 1.9 percent in January 2014, less than the expected 3 percent. However, further hikes are to be expected according to the Finance Ministry.

Core CPI month-on-month, which excludes energy and most food products increased by .23 percent, up from .16 percent in the previous month, however, lower than leading analysts’ expectations of .26 percent. Bi-Weekly CPI year-on-year also fell short of economists’ expectations of 4.05 percent and came in at 3.97 percent, down from the previous period of 4.19 percent. Continuing with this downward trend, Bi-Weekly Core CPI decreased from .21 percent to .05 percent, falling short of analysts’ expectations of .10 percent. Finally Bi-Weekly CPI dropped off significantly from .41 percent to .11 percent, below economist’s expectations of .17 percent.

The short appreciation came as no surprise as lower levels of inflation point to a rise in currency value. However, despite the optimistic news, the Peso has continued to trade at historic lows, not seen since 2009. Continued depreciation of the Peso can be expected as the USD will surely rise following the Fed’s future interest rate hikes.

MXN Spikes Following CPI Announcement

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES