Covering the Mexican Economy, Actinver Research

Actinver

Covering the Mexican Economy

Actinver Research

Actinver is a mexican leading financial group, that generates well being for individuals and companies through advisory services that provides investment management to maintain and grow their wealth.

Macroeconomics

<ul>
<li>The Bank for International Settlements’ (BIS) triennial survey highlights the continued expansion of global foreign exchange activity.</li>
<li>The Mexican peso reaffirmed its relevance, ranking among the most actively traded currencies worldwide and consolidating its position as one of the leading currencies within emerging markets.</li>
<li>According to the BIS Triennial Central Bank Survey on foreign exchange markets (April 2025), global FX trading volumes increased by 28% compared with the 2022 survey, reaching an average daily turnover of USD 9.6 trillion.</li>
</ul>


The Bank for International Settlements’ (BIS) triennial survey highlights the continued expansion of global foreign exchange activity.
The Mexican peso reaffirmed its relevance, ranking among the most actively traded currencies worldwide and consolidating its position as one of the leading currencies within emerging markets.
According to the BIS Triennial Central Bank Survey on foreign exchange markets (April 2025), global FX trading volumes increased by 28% compared with the 2022 survey, reaching an average daily turnover of USD 9.6 trillion.


Asia biased macro & technical analysis, Untying The Gordian Knot

Untying The Gordian Knot

Asia biased macro & technical analysis

A differentiated process with a primary focus on Asia. Technical Analysis as core and Macro drivers that could bring the view to fruition & changes that could make the idea fall apart. The objective is to be the best in class, hence corner shop.

Cross Asset Strategy

<ul><li>Throughout 2024, we’ve witnessed tight trading ranges across various markets: oil, FX, and Credit spreads.</li><li>Notably, Semiconductors (light blue), Gold (depicted in blue), High-Yield OAS (in red), and Bitcoin (represented in black) exhibit remarkably similar chart patterns.</li><li>In essence, these assets no longer offer diversification benefits; they have effectively become indistinguishable trades.</li></ul>

Throughout 2024, we’ve witnessed tight trading ranges across various markets: oil, FX, and Credit spreads.Notably, Semiconductors (light blue), Gold (depicted in blue), High-Yield OAS (in red), and Bitcoin (represented in black) exhibit remarkably similar chart patterns.In essence, these assets no longer offer diversification benefits; they have effectively become indistinguishable trades.

FX & Rates

<ul><li>U.S. interest rates have been climbing since early January 2024 after reaching their lowest points between December 27th and January 11th.</li><li>For example, the yield on 2-year Treasury bonds has increased by 52 basis points (bps), and the yield on 10-year bonds has risen by 49 bps since their respective lows.</li><li>Similarly, the Dollar Index (DXY), which measures the value of the U.S. dollar against a basket of other currencies, experienced its weakest point on December 28th, 2023.</li></ul>

U.S. interest rates have been climbing since early January 2024 after reaching their lowest points between December 27th and January 11th.For example, the yield on 2-year Treasury bonds has increased by 52 basis points (bps), and the yield on 10-year bonds has risen by 49 bps since their respective lows.Similarly, the Dollar Index (DXY), which measures the value of the U.S. dollar against a basket of other currencies, experienced its weakest point on December 28th, 2023.

US Dollar: Trend Reversal or Start of Bull Run

External broker reports(aggregated public sources), Topline Securities

Topline Securities

External broker reports(aggregated public sources)

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Pak Rupee (PKR) has been under pressure since last 7-Years. In 2023 PKR fell 20% against US$ in spite of some recovery in last few months.</li><li>This 20% fall in 2023 is higher than last 5-Year average fall of 13% a year and 10-Year average of 8%.</li><li>External financing gap, challenging global financial markets, and local political instability has badly affected foreign exchange (FX) reserves and build pressure on PKR.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pak Rupee (PKR) has been under pressure since last 7-Years. In 2023 PKR fell 20% against US$ in spite of some recovery in last few months.This 20% fall in 2023 is higher than last 5-Year average fall of 13% a year and 10-Year average of 8%.External financing gap, challenging global financial markets, and local political instability has badly affected foreign exchange (FX) reserves and build pressure on PKR.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pakistan Economy - PKR Down 20% Against US$ in 2023; Average Inflation of 31% but Likely to Fall

External broker reports(aggregated public sources), Scotiabank

Scotiabank

Scotiabank’s global foreign exchange strategy team provides in-depth regional insights and macro-economic analysis for G10 and advanced economies, Asia Pacific, and Latin America. Find technical and fundamental strategy reports focused on trade ideas, market risks, and the unfolding macro outlook. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>The USD has started off the new year in a new frame of mind, it would appear, although the rebound currently underway took hold in late December just ahead of the turn of the year.</li><li>Markets are still shrugging off the after affects of the holidays and reduced participation that can sometimes exaggerate moves but the window for a moderate (at least) relief rally in the USD may be opening.</li><li>Firstly, my longer-term perspectives on the USD remain negative.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The USD has started off the new year in a new frame of mind, it would appear, although the rebound currently underway took hold in late December just ahead of the turn of the year.Markets are still shrugging off the after affects of the holidays and reduced participation that can sometimes exaggerate moves but the window for a moderate (at least) relief rally in the USD may be opening.Firstly, my longer-term perspectives on the USD remain negative.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FX Snapshot - Relief Rally Opportunity for the USD

United States

The US dollar is the official currency of the United States of America.

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USD (USD CURNCY)

Actinver Research - Mexican Peso Trading

The Bank for International Settlements’ (BIS) triennial survey highlights the continued expansion of global foreign exchange activity.

Actinver

Are We Heading for a Volatility Event?

Notably, Semiconductors (light blue), Gold (depicted in blue), High-Yield OAS (in red), and Bitcoin (represented in black) exhibit remarkably...

Untying The Gordian Knot

US Dollar: Trend Reversal or Start of Bull Run

U.S. interest rates have been climbing since early January 2024 after reaching their lowest points between December 27th and January 11th.

Untying The Gordian Knot

Pakistan Economy - PKR Down 20% Against US$ in 2023; Average Inflation of 31% but Likely to Fall

Pak Rupee (PKR) has been under pressure since last 7-Years. In 2023 PKR fell 20% against US$ in spite of some recovery in last few months. This...

Topline Securities

FX Snapshot - Relief Rally Opportunity for the USD

The USD has started off the new year in a new frame of mind, it would appear, although the rebound currently underway took hold in late December...

Scotiabank

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)