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⚠️💱Peso Front-End Implied Undervalued By Around 400Bps: Cable FX Macro
Last week, the spike in the USD/MXN recorded a range above 1.50 pesos. Over the past five years, ranges this wide have been seen only 7...

Rosbel Durán
Jun 10, 2024


📝Rising Political Risks to Pressure Domestic Spreads: Commerzbank Strategy
The present situation looks more akin to 2017, when the sudden emergence of risks of a Le Pen election victory triggered sustained...

Rosbel Durán
Jun 10, 2024


💱⚠️Mexico Credit Default Swaps Rise Marginally Despite Uncertainty: Cable FX Macro
The rise in MXN-denominated assets risk premium translated to sharp losses in FX and equities, the peso posted its worst week since the...

Rosbel Durán
Jun 9, 2024


📉⚠️Mexican Peso Extends Losses to YTD Lows On Reform Risks: Cable FX Macro
The chart below shows a summary of USD/MXN price action following the presidential election results USD/MXN failed to reject 18.0 to the...

Rosbel Durán
Jun 8, 2024


🇺🇸💼U.S. Unemployment Rate Unexpectedly Rises In May: Cable FX Macro
**As seen in Online Tools>Non Farm Payrolls Dashboard, subscribe at cablefxm.co.uk/reports The May jobs report showed the U.S. economy...

Rosbel Durán
Jun 7, 2024


⚠️Mexican Peso Carry/Vol Ratio Halved On Local Risks: Cable FX Macro
Whether the recent election results will change Mexico structurally or not is yet to be seen, however, financial markets don't usually...

Rosbel Durán
Jun 7, 2024


🐍🦅Mexican Peso Posts Worst Week Since The Pandemic: Cable FX Macro
We have seen volatility rise in MXN denominated assets following the Sunday election results. Morena party supermajority has increased...

Rosbel Durán
Jun 7, 2024


📆Friday Session Docket: Canada Jobs, Non Farm Payrolls, Eurozone Employment
**As seen in Online Tools>Calendar, subscribe at cablefxm.co.uk/reports Tier-1 data ahead

Rosbel Durán
Jun 6, 2024


🇺🇸💼Non Farm Payrolls Average Surprise At +45K: Cable FX Macro
**You can read our May Non Farm Payrolls preview in the Risk In The Week report **As seen in Online Tools>Non Farm Payrolls...

Rosbel Durán
Jun 6, 2024


🌐Supply Chains to Support Disinflationary Progress: Cable FX Macro
A sustained rally in commodity prices is not the only reason behind high inflation cycles, other factors play in. However, high commodity...

Rosbel Durán
Jun 6, 2024


⚖️🔺Swap Rate Spreads Point to USD/CAD Upside: Cable FX Macro
Today it is about the ECB, but let us not forget the BoC lowered rates first. Different to the ECB, the Canadian central bank had...

Rosbel Durán
Jun 6, 2024


📝Mexico Data Points to Further Moderation In 2H: UBS
Ahead of final numbers on the electoral front, the release of formal job creation in May showed one of the worst figures in the last 10...

Rosbel Durán
Jun 6, 2024


📝Expect BoJ to Hike Rates As Soon As Next Week: Natixis
Recently, the virtuous circle between wages and inflation has begun to strengthen. Following the highest wage hike in the past...

Rosbel Durán
Jun 6, 2024


💹King Of Carry Losses Crown After Spike In Risk Premium: Cable FX Macro
The best performing carry trade of 2024 gained popularity as returns were not closely matched by peers. By the end of the first quarter,...

Rosbel Durán
Jun 5, 2024


💶EUR/USD Sees Lowest O/N Volatility Into ECB: Cable FX Macro
The options market is heading into the ECB with EUR/USD one day volatility at the lowest reading over the course of last year. O/N vol...

Rosbel Durán
Jun 5, 2024


🏦🇨🇦Cable FX Macro Weekly Note: Bank Of Canada June Rate Decision
**As seen in Risk In The Week report 06/03/24, subscribe at cablefxm.co.uk/reports The Bank of Canada held rates steady back in April,...

Rosbel Durán
Jun 5, 2024


📝Expect An Additional 75bps Of BoC Easing This Year: ING
With the BoC moving in line with our forecasts, and our expectations of an additional 75bp of easing this year (around 47bp priced in),...

Rosbel Durán
Jun 5, 2024


🇦🇺❗️Cable FX Macro Weekly Note: Australia 1Q GDP Growth
**As seen in Risk In The Week report 06/03/24, subscribe at cablefxm.co.uk/reports The Australian economy expanded by 0.2% Q/Q in 4Q...

Rosbel Durán
Jun 4, 2024


⚠️💱Mexican Peso Implieds Extends Rise After Election: Cable FX Macro
Now that the election is out of the way, MXN denominated assets have not seen signs of relief. In fact, the USDMXN structure has risen...

Rosbel Durán
Jun 4, 2024


⚖️🇲🇽US-MX Spread Widens On MBonos Selloff: Cable FX Macro
A rate divergence has widened the US-MX 10-year spread as Treasuries are bid while the Mexican equivalent is offered. This is a...

Rosbel Durán
Jun 4, 2024
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