🐍🦅MXN Has A Tendency to Strengthen After Banxico: Cable FX Macro

• 30 minutes after Banco de Mexico has decided on rates, the USD/MXN has ended lower on average. We're looking into the last two years of Banxico rate decisions. That means our sample size covers 23 rate decisions, 13 of which has seen the Mexican peso ending the day stronger.

• Economists expect the central bank to lower rates by 50bps on Thursday. The latest board projections sees 2025 GDP contracting slightly while inflation is expected to rise 3.7%