The Mexican peso traded on Friday losing around 0.35% vs. the USD to USD-MXN 15.40. The MXN failed to rally even as PEMEX (state owned oil company) announced the discovery of new oil deposits in the Gulf of Mexico that a…
The Mexican peso traded on Friday losing around 0.35% vs. the USD to USD-MXN 15.40. The MXN failed to rally even as PEMEX (state owned oil company) announced the discovery of new oil deposits in the Gulf of Mexico that according to the company could add as much as 200K additional oil barrels to Mexico's daily production.
It's worth mentioning that from a global perspective, keep an eye on developments in Greece that could end-up taking a toll on the peso as the MXN is often used as a proxy for EM risk in addition to its 24/7 liquidity status and deliverability features. While there are limited transmission channels between Europe and Mexico from a trade perspective, a perception of global risk aversion could still hurt the peso until the dust settles, says Commerzbank.
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
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