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MXN

08 Sep 2025

Markets Hunker Down Ahead of Inflation Reports

Currency markets are back in consolidation mode as investors keep an eye on international developments and await inflation data that could alter US monetary policy expectations across the front end of the curve. Ten-year Treasury yields are holding firm, equity futures are setting up for gains at the North American open, and the dollar is trading slightly lower against its major peers after a relatively-subdued reaction to Friday’s data. Markets are assigning better than 100-percent odds to a rate cut at next week’s Federal Reserve’s meeting after Friday’s non-farm payrolls report delivered incontrovertible evidence of a slowdown in US labour...

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01 Aug 2025

Dollar Tumbles After US Job Creation Collapses

The dollar is plunging after the US labour market hit a wall last month, reinforcing market expectations for at least two rate cuts from the Federal Reserve in the back half of the year. According to data just released by the Bureau of Labor Statistics, just 73,000 jobs were added in July – representing an undershoot relative to the 105,000-consensus forecast – and the unemployment rate ticked up to 4.2 percent. The previous two months were revised lower by a combined 260,000 roles, and private sector job creation flipped into negative territory. Total payroll gains have averaged 35,000 over the...

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14 Jul 2025

Markets Keep Playing Chicken With Trump

Financial markets are beginning the week in a remarkably-calm state after the Trump administration spent the weekend escalating its trade war and stepping up its assault on Federal Reserve chair Jerome Powell. The dollar is trading on a slightly firmer footing after posting its best performance since February last week, Treasury yields are up incrementally, and equity futures are pointing to modest selling at the open. Both the euro and Mexican peso are trading only slightly below Friday’s closing levels, even after Trump threatened to impose 30-percent tariffs on imports from August 1 in a pair of early-Saturday missives. Traders...

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12 Jul 2025

Trump Raises Tariffs on Mexico and the European Union to 30 Percent

Currency markets are headed for another bruising open when trading begins in Asia tomorrow afternoon after President Donald Trump delivered another set of letters threatening to impose higher tariffs on Mexico and the European Union. In two missives posted to his social media platform, the president said taxes on imports from two of America’s most important trading partners would rise to 30 percent on August 1, separate from other sectoral tariffs on products like steel, aluminum, and automobiles. In his communication to President Claudia Sheinbaum, Trump acknowledged “Mexico has been helping me secure the border,” but said “what Mexico has...

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08 Jul 2025

Trump’s Tariff Letters Leave Markets Largely Unmoved

The dollar is losing altitude once again after Donald Trump reignited trade tensions with a fresh round of tariff threats, unsettling global markets and complicating the outlook for monetary policy. Trump sent letters to 14 countries last night—including close allies and key trading partners Japan and South Korea—threatening them with the reimposition of tariffs from August 1, and more are expected today. The greenback is sitting on losses equivalent to roughly half of yesterday’s gain, Treasury yields are up across the curve, equity futures are pushing lower ahead of the open, and the Canadian dollar, Mexican peso, and euro are...

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