Daily digest market movers: Mexican Peso depreciates also on geopolitical risks

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  • Another driver that pressures the Peso was the escalation of the Israel-Hezbollah conflict in the Middle East.
  • Traders will eye Fed speakers, the release of US Q2’s 2024 GDP, and the Fed’s preferred inflation gauge, the Core Personal Consumption Expenditures Price Index (PCE).
  • Data from the Chicago Board of Trade (CBOT) suggests the Fed will cut at least 100 basis points (bps), according to the fed funds rate futures contract for December 2024

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