Pepperstone

Pepperstone Broker

After a choppy start to the week for USDJPY and JPY Crosses, such as EURJPY, with traders bombarded with headlines related to trade tariffs and retaliatory measures, the back end of the week has seen some USDJPY downside emerge as general long dollar positions are scaled back, and economic data from Japan has provided support for the view that the country’s...

Pepperstone Broker

The recent monetary policy decision by the Bank of Mexico (Banxico), which reduced the interest rate by 50 basis points to 9.5%, marks a significant moment in the current cycle of monetary normalization. Although the market consensus already anticipated a cut, the 50-basis-point magnitude reflects the majority of the Governing Board members’ confidence that...

Pepperstone Broker

In a global environment still marked by uncertainty, the Mexican peso is showing relative stability ahead of the imminent monetary policy decision by the Banco de México (Banxico). The expectation of a 50 basis points cut in the interest rate this month reflects a strategic calculation: to seize an opportunity to continue stimulating the economy while the relative...

Pepperstone Broker

The Mexican peso remains in a delicate position, struggling with a series of internal and external factors that exert pressure on its value. Despite a weaker U.S. dollar midweek, the local currency has faced notable downward pressures, reflecting the complex economic landscape that Mexico is navigating. Global trade uncertainty continues to be a key factor. While...

Pepperstone Broker

The week started with a gap higher on the Monday open to 75.99 in response to President Trump’s weekend announcement of trade tariffs on Canada and Mexico. This included import tariffs of 10% on energy from the two countries, impacting around 4.5 million barrels per day of oil supplies into the US. The rally quickly reversed in the afternoon, as headlines...

Pepperstone Broker

In an unexpected turn, U.S. job openings resumed their downward trend in December 2024, according to the JOLTS report published by the Bureau of Labor Statistics (BLS). This decline, following two months of improvement, raises questions about the strength of the U.S. labor market and its potential impact on the upcoming January nonfarm payrolls (NFP)...