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Forex Flash: Mexican Central Bank expected to hold rates - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that the Mexican central bank meets Friday and is expected to keep rates steady at 4.0%.

Ahead of that meeting on Wednesday, mid-April CPI report is due out and is likely to show still-elevated price pressures. They feel that due to low base effects, the y/y headline rate is seen jumping to 4.8% y/y from 4.1% y/y in mid-March. However, they write, “Core CPI is seen remaining steady at 3% y/y. For now, high inflation should squelch any thoughts of a follow-up rate cut anytime soon. We see steady rates for the rest of 2013, unless the economy shows signs of a much sharper slowdown.”

Forex Flash: AUD holding up despite commodities coming under pressure - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the prices of commodities closely linked to China demand are coming under downward pressure with the price of copper, iron ore, and coal having all declined by around 10-20% from their recent highs in 2013.
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