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Banxico's Mejia Suggests Committee Could Discuss Q1 Cut, Espinosa Warns Of Risks

MEXICO
  • BANXICO COULD DISCUSS A RATE CUT IN 1Q 2024, MEJIA SAYS
  • Countering...MEXICO'S INFLATION RISKS GROWING, ESPINOSA SAYS (BBG)
  • USDMXN extends higher to the best levels of the session. Seems prompted by these comments on potential easing in Q1 although price action has been supportive throughout the day.- Overall, the trend direction in USDMXN remains down and price is trading closer to its recent lows. The break of support at 17.2833, the Nov 3 low, confirmed a resumption of the current bear cycle.- On the upside, initial resistance is at 17.5152, the 50-day EMA.

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