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April Consumer Confidence, Banamex Economist Survey Due

MEXICO
  • The Mexican peso is trading in a tight range against the dollar today, holding around 16.87. This keep USDMXN just below initial support at 16.8909, which was pierced again yesterday. A clear break would expose key support and the bear trigger at 16.2616, the Apr 9 low.
  • On the data front, consumer confidence and vehicle production figures for April are due at 1300BST(0800ET), while the latest Banamex economists survey will be published later. In the week ahead, the focus will be on April CPI and Banxico’s interest rate decision on Thursday, when the majority of analysts expect the central bank to stand pat at 11.0%.
  • Meanwhile, Finance Minister Rogelio Ramirez de la O, opposition presidential candidate Xochitl Galvez and BBVA Mexico chief Eduardo Osuna speak at a BBVA event in Mexico City at 1630BST(1130ET) today. Yesterday, Deputy Finance Minister Gabriel Yorio said that fiscal reform needs to be discussed after the election. He said that the government will close this fiscal year pretty well, adding that he doesn’t expect any surprises on the fiscal front.
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