MEXICO: Banxico Nominee Mejia Receives Lawmaker Approval
Jan-19 12:15
- As noted above, the weaker US data on Wednesday appears to have dented sentiment and the Mexican Peso has fallen victim to this, even in the face of lower US yields. With many citing MXN as a popular carry trade and also benefitting from a firm US growth profile throughout 2022, this may explain the short-term pressure being exerted on the Peso.
- The 2020 lows at the early onset of the pandemic have also provided a solid technical point for a reversal in sentiment. It is worth noting USDMXN is still down 2.6% this year and overall conditions remain bearish for the pair. Initial firm resistance is at 19.0401, the recent breakout point.
- Mexico's lawmakers have approved Omar Mejia to the Banxico board. This follows the committee approval overnight on Tuesday and should pave the way for Mejia to be a part of the Banxico committee for its next decision, scheduled on February 9th.
- His term is expected to run through the end of 2030.
- Grupo Financiero Banorte and Kimberly-Clark de Mexico will post the results of their fourth-quarter earnings.
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MNI EXCLUSIVE: A Look At BOE Communications On Rate Expectations
Dec-20 12:02
MNI looks at BOE communications on market rate expectations --On MNI Policy MainWire now, for more details please contact sales@marketnews.com
LIBOR: USD, JPY LIBOR FIX - 20/12/2022
Dec-20 11:57
| USD LIBOR FIX: | ||
| O/N | 4.31543 | -0.00486 |
| 1M | 4.36129 | 0.00743 |
| 3M | 4.75257 | 0.01428 |
| 6M | 5.17671 | 0.02685 |
| 12M | 5.45871 | 0.031 |
| JPY LIBOR FIX | ||
| 1M | -0.06005 | 0 |
| 3M | -0.03973 | 0.00617 |
| 6M | 0.03836 | 0 |
NORWAY: Poll Puts PM's Party At Historic Lows, But Next Election Still Years Off
Dec-20 11:50
Latest opinion polling from Norway shows Prime Minister Jonas Gahr Store's centre-left Labour Party recording its lowest ever level of support as rising inflation, record energy prices, and a high tax burden imposed by the Labour-Centre Party minority gov't hits Norwegian household finances.
- Norstat poll: Conservatives: 35.6% (+5.5), Labour: 14.6% (-2.5), Progress Party: 14.2% (+1.4), Socialist Left: 8.8% (+0.2), Red Party: 7.7% (+0.4), Liberals: 4.2% (-0.4), Greens: 4.% (+1)Sp~RE: 4.1% (+0.2), Christian Democrats: 3.1% (-0.3). +/- vs. 22-27 November 2022. Fieldwork: December 2022
- From @europeelects: "The governing centre-left Labour Party (Ap-S&D) receives 14.6% in the latest Norstat poll; the lowest result ever in any opinion poll. This would be its worst election result since 1906 and the first time since 1927 Ap is not the largest party...the centre-right Conservative Party of former Prime Minister Erna Solberg receives 35.6% in the latest Norstat poll; the highest result in any opinion poll since June 2013. This would be the party’s best election result since 1909."
- While such poor polling for an incumbent gov't would usually be a cause for concern, even if the Store gov't collapsed it would not bring about a snap election. However, under the Norwegian constitution snap elections are not possible, with the next vote taking place in September 2025. Should the gov't collapse, a new Cabinet must be formed from the current parliamentary composition.
