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Banxico expected to remain ‘on-hold’ – BBH

FXStreet (Edinburgh) - The research team at BBH expects the Mexican central bank to keep rates steady at its meeting this week.

Key Quotes

Banco de Mexico meets Thursday and is expected to keep rates steady at 3.25%”.

“The firmer peso has given the central bank some breathing room to stay on hold this month”.

“The next policy meeting is March 18, which comes right after the FOMC meeting on March 16. If the Fed remains on hold then, we suspect Banxico will also”.

Gold wavers in a narrow range after US data

Gold is wavering in a narrow range as the USD stayed largely resilient even though the US data showed personal spending stalled in December.
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WTI oil drops on reduced possibility of OPEC action

Oil prices extended the drop in the US session as the traders do not see the OPEC and non-OPEC members on the same page regarding production cut any time soon.
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