Overview

• At Saturday’s open, the interbank rate stood at 18.71 pesos per dollar, according to Bloomberg, and Banxico’s last reference was 18.67.
• U.S. nonfarm payrolls rose by 22,000 in August versus 75,000 expected, and unemployment ticked up to 4.3%.
• Futures traders strengthened wagers that the Federal Reserve will begin cutting rates at its September 17 decision.
• The peso gained on Friday and Mexico’s stock market notched new highs, though the currency is still down 0.35% for the week.
• CME data show net long bets on the peso increased for a third straight week, as analysts urged caution and Kevin Hassett said the soft jobs data could be revised.