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AMLO To Respond To Court Decision, USDMXN Support Continues To Hold

MEXICO
  • USDMXN has once again failed to build on downside momentum below the 18.00 handle with the key 17.90 support remaining intact for now. Poorer global sentiment and the associated greenback strength has prompted a 0.4% recovery to current levels of just below 18.15.
  • President AMLO is expected to respond to a court decision on Tuesday annulling the transfer of the National Guard, a security force he created, to the defence ministry. The court annulled the transfer for violating Mexico’s constitution, according to Reforma. A fairly quiet week on the data front with February retail sales headlining tomorrow.

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