It figures that just when it appeared as if positive equity market action and significant weakness in US Treasuries were about to confirm growth in the US economy, the US economic numbers turned sour.
Mexico
Mexican peso spurred higher by central bank rate cut
The Mexican peso advanced on Friday against the U.S. dollar after the central bank opted to slash interest rates for the first time in almost four years, Reuters reports. By reducing borrowing costs from 4.5 percent to 4 percent, the Bank of Mexico is aiming to induce growth and development in Latin America's second-largest economy. Brazil,… Read more.
Peso notches third consecutive day of gains
Thursday saw the Mexican peso advance against the world's reserve currency for a third-straight day amid uplifting political activity in both Mexico and the U.S., Bloomberg reports. Optimism is strong for the new policies of President Enrique Pena Nieto, who signed on with a pact to develop national growth with three of the country's top… Read more.
Peso works to bounce back from sharp slump
The downward drive of the Mexican peso has been quite sharp during the past month, a rather surprising development considering the monetary unit's stronger performance thus far this year, Bloomberg reports. Harming Latin America's most traded currency are concerns about the economic slowdown. While the monetary unit has surged 12 percent since late May, it… Read more.
Peso’s climb reduces inflation, central bank governor says
Increased prices and cutting down on inflation's surge are likely to occur as a consequence of the strong performance of the Mexican peso, the country's central bank governor told a Mexican newspaper, according to Reuters. Agustin Carstens said during an interview with the publication that the Bank of Mexico is not very comfortable with inflation's… Read more.
Mexican peso continues upward tick against greenback
The Mexican peso benefited Friday from a weak U.S. jobs report, climbing against the U.S. dollar as speculation mounted about the central bank of the U.S. more seriously considering additional rounds of monetary stimulus, Reuters reports. Latin America's most traded currency continued climbs from Thursday afternoon when it notched its highest value in four months,… Read more.
Oil driven higher by Isaac
Oil prices were rising early on Monday morning with the steady approach of Tropical Storm Isaac across the Gulf of Mexico, according to Reuters. The energy commodity has been rising and falling with conflicting news the past few days as traders anticipate potential economic stimulus from the two largest economies in the world. But the… Read more.
Market Spotlight: Lean Hogs
Hogs are generally bred twice a year in a continuous cycle designed to provide a steady flow of production. The gestation period for hogs is 3-1/2 months and the average litter size is 9 pigs. The pigs are weaned at 3-4 weeks of age.
Mexican growth slowed during Q2, when U.S. economy slipped
Mexico saw growth and development during the second quarter slow, which was likely influenced by the U.S. economy's reduced pace as well, Bloomberg reports. The host of Latin America's most traded currency saw its gross domestic product grow at about half the pace of the metric during the first quarter, prompted by the reduced rate… Read more.
Peso to endure volatility for years to come, central bank deputy governor says
The Mexican peso is poised for volatility during the upcoming years while financial markets throughout the world are uneasy in the face of the sovereign debt crisis, Bank of Mexico deputy governor Manuel Ramos Francia told Bloomberg late last week. Latin America's most traded currency will be volatile for years rather than months, he told… Read more.