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Banxico Deputy Governor Esquivel Speaks, USDMXN Consolidating

MEXICO
  • USDMXN edged lower on Monday, with the Peso benefiting from more optimistic global risk sentiment as US Treasury yields declined and equity indices advanced. The pair remains closely tied to the familiar 20.00 mark and is technically in consolidation mode.
  • Worth noting that in the latest CFTC report, investors trimmed their bearish peso bets to 33,654 contracts in week ending Oct. 11, a second straight week of reductions.
    • A resumption of weakness would expose key short-term support at 19.7533, the Sep 12 low. Clearance of this level would strengthen bearish conditions.
  • At 1700 Mexico City time, deputy central bank governor Gerardo Esquivel gives talk on social welfare.
  • Amid a light data calendar, Mexico is set to report weekly reserves figures. August retail sales remains the key data point this week, scheduled on Friday.

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