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14 Nov 2026

Week Ahead Market Brief: November 16 – 20

Financial journalists were not short of material this week. US inflation came in hotter than expected, Fed officials turned far more hawkish, and the Trump administration signalled it would double down on its policy playbook. Risk appetite took a hit when Jensen Huang, Nvidia’s chief executive, overclocked his personal life and left the world’s biggest artificial intelligence company temporarily rudderless. An outage in Microsoft’s products silenced communications – and raised productivity – across the corporate world. Then, last night, a failed software update forced a ground stop of all air traffic in America, cancelling thousands of flights and stranding passengers...

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05 Nov 2026

Banxico cuts, wrongfooting markets

Banco de México unexpectedly cut its overnight rate by a quarter point this afternoon, but called the move a “one-time adjustment”, helping alleviate selling pressure on the peso. In a split decision, policymakers trimmed the overnight rate to 6.25%, with Governor Victoria Rodríguez, Gabriel Cuadra and Omar Mejía carrying the vote, while Galia Borja and Jonathan Heath argued for holding at 6.50%. The move has widened the gap with US rates, which climbed in September, and are expected to go higher next month. The central bank acknowledged upside risks to headline inflation but emphasised the absence of “demand-side pressures” in...

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31 Oct 2026

Week Ahead Market Brief: November 2 -6

Good morning, and happy Halloween. Currency and government bond markets are holding steady after a week in which monetary and fiscal policymakers largely delivered on expectations: the Bank of Canada raised rates; the Federal Reserve, the European Central Bank and the Bank of Japan all held; and in Britain, Chancellor Healey delivered a well-telegraphed, fiscally moderate Budget that kept investors onside with Andy Burnham’s government. Most major currency pairs look largely range-bound, with measures of expected volatility remaining remarkably subdued – including at the one-week horizon – suggesting that participants expect more of the same over the coming days. The...

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23 Oct 2026

The superpeso stumbles

The peso is suddenly facing serious headwinds For much of this year, the “superpeso” lived up to its reputation. In late August, the exchange rate hit a two-year peak, and President Claudia Sheinbaum hailed it as one of the “strongest and most solid currencies in the world”. Seven weeks later, the mood has soured. The peso has fallen for six consecutive weeks, its longest losing streak since 2019, and is trading near a one-year low even as the dollar beats a hasty retreat from recent highs. That underperformance could persist in the near term, with the currency sliding further toward...

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15 Oct 2026

Equity market turbulence intensifies, sending dollar reeling

Shares are sliding and the dollar is tumbling against its main counterparts as an unwinding of crowded AI-related trades sends investors fleeing to safe havens. US equity markets are setting up for further losses at the open after technology shares suffered their worst sell-off in months yesterday, Treasury yields are falling, while the yen and Swiss franc outperforming the euro, pound, and Canadian dollar as the retreat from risk gathers momentum. Yesterday’s data added to the turmoil, showing that price pressures in the US economy remain too intense, too widespread, and too persistent. A widely-anticipated consumer price index report showed...

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