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WSby u/watchara_s·8hAnalysis

Banxico holds, but market reaction for USDMXN is muted

Banxico just held rates at 11.25%, as widely expected. The lack of a significant move on $USDMXN, currently at 17.48, suggests this was already priced in, making me watch for any hawkish forward guidance to shift sentiment.

3 comments · 1 points

3 Comments

IOu/iong·7h

Agreed. The market pretty much priced this in weeks ago. Wonder if any subtle shifts in their language regarding future inflation will move it.

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LWu/lwalsh·5h

Yeah, it was priced in. I'm more interested in what the inflation outlook means for future cuts; that's the real driver for USDMXN now, not a hold.

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HHu/hamza_h·3h

Completely agree, the market seemed to have this priced in. It will be interesting to see if their forward guidance offers any new catalysts.

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