MXN

Good morning. Long-term yields are slipping, oil prices are edging lower and the dollar is retreating after US president ​Donald Trump said the US would not attack Iran before next month’s midterm elections, easing market fears of another major disruption in global energy supplies. Ten-year Treasury yields are down to 5.24% after reaching 5.35% earlier in the week, front-month Brent futures are trading for $102 a barrel while the West Texas benchmark goes for $90, and the trade-weighted dollar is down roughly 0.25% from yesterday’s high. The move could be short-lived. Oil markets will stay on edge as long as...

Good morning. The dollar is edging toward an 18-month high as the Federal Reserve maintains its tightening bias, while higher energy prices and rising yields weigh on other major currencies. The euro, British pound, Canadian dollar, and Mexican peso are all trading near the bottom of their recent ranges, reflecting a fairly consistent move in rate differentials relative to the dollar. Yesterday’s minutes from the Fed’s September meeting confirmed what markets already believed. Participants unanimously agreed that disinflation was making too little progress and that borrowing costs should climb as geopolitics and the artificial-intelligence buildout add to upside price risks....

Good morning. The dollar is climbing, supported by high oil prices and Treasury yields near their highest levels since 2007. Crude benchmarks are giving back some of their gains as Saudi Arabia ramps up flows through its repaired East-West pipeline, but Brent is still trading around $105 a barrel as talks to end the war with Iran and reopen the Strait of Hormuz show no signs of progress. Benchmark ten-year Treasury yields are holding around 5.21% after briefly touching 5.27% in yesterday’s session. Widening rate differentials are dominating currency markets, lifting the dollar against all its major counterparts and wrong-footing...

Good morning. The dollar is sitting near a two-month high after Treasury yields posted their biggest single-day jump since the market convulsions that followed last year’s ‘Liberation Day’ tariff announcements. With the exception of the Swiss franc, every major currency is down almost 1% against the greenback this week. Investors were wrongfooted yesterday when S&P Global’s purchasing-managers’ index showed US business activity growing at its fastest pace in five years in September. According to the typically-humdrum second-tier release, output across the manufacturing and services sectors hit its highest levels since July 2021. The manufacturing index jumped to 57, its best...