- CIBC have reiterated that they are maintaining their upward USDMXN bias from current levels, having recently revised their Q3 forecast slightly upward to 18.50 (prev. 18.20).
- This reflects their expectations of an earlier start of the easing cycle following Banxico’s rate announcement last week.
- That said, CIBC recognize that the pair will remain prone to quick, albeit brief, spikes towards the 19.00-19.20 range, as constitutional reform discussions begin in Q3 and the US Presidential election race heats up.
MEXICO: CIBC Maintain Upward USDMXN Bias At Current Levels
Last updated at:Jul-03 11:44By: Jack Lewis
Mexico
- CIBC have reiterated that they are maintaining their upward USDMXN bias from current levels, having recently revised their Q3 forecast slightly upward to 18.50 (prev. 18.20).
- This reflects their expectations of an earlier start of the easing cycle following Banxico’s rate announcement last week.
- That said, CIBC recognize that the pair will remain prone to quick, albeit brief, spikes towards the 19.00-19.20 range, as constitutional reform discussions begin in Q3 and the US Presidential election race heats up.
