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Mexican Peso profits from US data turmoil
The post Mexican Peso profits from US data turmoil appeared on BitcoinEthereumNews.com. Mexican Peso strengthens against US Dollar, buoyed by positive market mood, mixed economic reports. US inflation remains hot as core PCE Price Index increases above March expectations. Mexico shows a deficit, yet Unemployment Rate drops, presenting mixed economic scenario. The Mexican Peso counterattacks registered solid gains versus the US Dollar on Friday as economic data from the United States (US) showed that inflation edged slightly up, while Mexico’s Trade Balance registered a trade deficit in March. The USD/MXN trades at 17.13, down 0.42%. The US Department of Commerce revealed that the Federal Reserve’s (Fed) preferred gauge for inflation, the core Personal Consumption Expenditure Price Index (PCE), increased above expectations in March. However, annual readings exceeded estimates but were unchanged compared to February. The National Statistics Agency (INEGI) revealed that Mexico printed a deficit in March when adjusted for seasonal adjustments. At the same time INEGI revealed the Unemployment Rate for the same period was lower than the consensus. Market mood is another reason the Mexican currency is underpinned as major Wall Street indices clock gains between 1.1% and 2.2%. Daily digest market movers: Mexican Peso shrugs off hot US inflation data As expected, March US core PCE figures came in at 0.3% compared to the previous month’s reading. Annually-based inflation increased by 2.8%, unchanged from February but exceeding estimates. PCE Price Index revealed headline inflation of 0.3% MoM, which was aligned with the consensus and unchanged. On a yearly basis, prices increased by 2.7%, up from 2.5%, exceeding forecasts of 2.6%. Consumer Sentiment in the United States (US) deteriorated in April, blamed on higher expected prices as inflation expectations rose. The University of Michigan sentiment index fell to 77.2 from 79.4 in March, below estimates of 77.9. Inflation expectations for one year rose by 3.2% over the next twelve months,…
The post Mexican Peso profits from US data turmoil appeared on BitcoinEthereumNews.com.
Mexican Peso strengthens against US Dollar, buoyed by positive market mood, mixed economic reports. US inflation remains hot as core PCE Price Index increases above March expectations. Mexico shows a deficit, yet Unemployment Rate drops, presenting mixed economic scenario. The Mexican Peso counterattacks registered solid gains versus the US Dollar on Friday as economic data from the United States (US) showed that inflation edged slightly up, while Mexico’s Trade Balance registered a trade deficit in March. The USD/MXN trades at 17.13, down 0.42%. The US Department of Commerce revealed that the Federal Reserve’s (Fed) preferred gauge for inflation, the core Personal Consumption Expenditure Price Index (PCE), increased above expectations in March. However, annual readings exceeded estimates but were unchanged compared to February. The National Statistics Agency (INEGI) revealed that Mexico printed a deficit in March when adjusted for seasonal adjustments. At the same time INEGI revealed the Unemployment Rate for the same period was lower than the consensus. Market mood is another reason the Mexican currency is underpinned as major Wall Street indices clock gains between 1.1% and 2.2%. Daily digest market movers: Mexican Peso shrugs off hot US inflation data As expected, March US core PCE figures came in at 0.3% compared to the previous month’s reading. Annually-based inflation increased by 2.8%, unchanged from February but exceeding estimates. PCE Price Index revealed headline inflation of 0.3% MoM, which was aligned with the consensus and unchanged. On a yearly basis, prices increased by 2.7%, up from 2.5%, exceeding forecasts of 2.6%. Consumer Sentiment in the United States (US) deteriorated in April, blamed on higher expected prices as inflation expectations rose. The University of Michigan sentiment index fell to 77.2 from 79.4 in March, below estimates of 77.9. Inflation expectations for one year rose by 3.2% over the next twelve months,…
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