MXN: Inflation figures bring no relief – Commerzbank

Source Fxstreet

Yesterday's Mexican inflation figures offered little relief: the seasonally adjusted core rate remained roughly consistent with the previous two months, Commerzbank's FX analyst Michael Pfister notes.

Sticky inflation to delay Banxico cuts

"This is unlikely to have allayed concerns at the Mexican central bank about a renewed rise in inflation. In its latest decision, Banxico indicated that it is likely to slow the pace of interest rate cuts in the near future."

"Although we will receive more data before the next meeting in early August, including the initial GDP estimate for the second quarter, the latest figures are likely to be sufficient to justify a slowdown. In the short term, speculation about more cautious interest rate cuts could support the peso."

"In the medium term, however - i.e. towards the end of the year - we still expect more interest rate cuts than the market is currently anticipating."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold price holds above $3,200; bullish bias remains amid trade uncertaintyGold price (XAU/USD) attracts some dip-buyers following the previous day's modest pullback from the record high and trades comfortably above the $3,200 mark during the Asian session on Tuesday.
Author  FXStreet
Apr 15, Tue
Gold price (XAU/USD) attracts some dip-buyers following the previous day's modest pullback from the record high and trades comfortably above the $3,200 mark during the Asian session on Tuesday.
placeholder
OpenAI Introduces Lowest-Cost ChatGPT Subscription in India with UPI Payment OptionOn Tuesday, OpenAI introduced ChatGPT Go, its most affordable AI subscription tier, targeting the price-sensitive Indian market. Nick Turley, OpenAI’s Vice President and Head of ChatGPT, announced the launch via an X post, highlighting that users can pay through India’s Unified Payments Interface (UPI).
Author  Mitrade
Aug 19, Tue
On Tuesday, OpenAI introduced ChatGPT Go, its most affordable AI subscription tier, targeting the price-sensitive Indian market. Nick Turley, OpenAI’s Vice President and Head of ChatGPT, announced the launch via an X post, highlighting that users can pay through India’s Unified Payments Interface (UPI).
placeholder
Australia's CPI Inflation Surges in July, Dimming Expectations for RBA Rate CutsAustralia's consumer price index (CPI) inflation surged to a one-year peak in July, surpassing market expectations and complicating the Reserve Bank of Australia's (RBA) outlook on further interest rate cuts.
Author  Mitrade
Aug 27, Wed
Australia's consumer price index (CPI) inflation surged to a one-year peak in July, surpassing market expectations and complicating the Reserve Bank of Australia's (RBA) outlook on further interest rate cuts.
placeholder
Crypto Market Update: Bitcoin Rebounds Amid Fed Turmoil, Altcoins GainBitcoin edged higher Wednesday to $111,272 after hitting a seven-week low below $109,000, pressured by a major whale trade that liquidated 24,000 tokens. The cryptocurrency has now dropped more than 10% from its August peak above $124,000, as risk sentiment remains muted amid concerns over Federal Reserve independence.
Author  Mitrade
Aug 27, Wed
Bitcoin edged higher Wednesday to $111,272 after hitting a seven-week low below $109,000, pressured by a major whale trade that liquidated 24,000 tokens. The cryptocurrency has now dropped more than 10% from its August peak above $124,000, as risk sentiment remains muted amid concerns over Federal Reserve independence.
placeholder
Bitcoin Slides to $111K Ahead of PCE Inflation Data, Faces Monthly DeclineBitcoin experienced volatile trading on Friday, sliding close to $111,000 as investors awaited critical U.S.
Author  Mitrade
Aug 29, Fri
Bitcoin experienced volatile trading on Friday, sliding close to $111,000 as investors awaited critical U.S.
Related Instrument
goTop
quote