MXN: Policy easing signals and resilient currency – Societe Generale

Societe Generale analysts note that Deputy Governor Galia Borja signaled Banxico has room to resume rate cuts, pointing to weak domestic demand, falling investment and a stronger Peso. The Mexican Peso stayed resilient despite renewed USMCA concerns and a decline in President Sheinbaum’s approval rating. Revised 4Q GDP and slightly higher mid‑February inflation were also noted.

Banxico signals space for rate cuts

"FX was not immune and spillover from Tech halted the upward run in carry and commodity currencies incl the ZAR, COP, CLP, MXN and AUD."

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"The MXN was resilient despite renewed USMCA concerns expressed by USTR Greer and a dip in President Sheinbaum’s approval rating to 56%, the lowest since taking office."

"In Mexico, Deputy Governor Galia Borja indicated that Banxico has room to resume rate cuts, citing weak domestic demand, falling investment and a stronger peso."

"On data front, final 4Q GDP was revised up to 0.9% qoq from 0.8% (1.8% yoy vs 1.6%) and inflation for the first half of February inched up marginally to 3.92% from 3.82%."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

РЫНОЧНЫЕ КОТИРОВКИ

Название / Символ
График
% Изменение / Цена
GBPUSD
Изменение за 1 д.
-0.82%
1.33186
EURUSD
Изменение за 1 д.
-0.70%
1.11405
USDJPY
Изменение за 1 д.
+0.46%
158.898
AUDUSD
Изменение за 1 д.
-0.66%
0.68666