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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessBanxico’s Espinosa Speaks, May Unemployment Rate Rises
- Despite some minor gains overnight, USDMXN maintains a softer tone following last week’s move lower and extension of the recent reversal from the Jun 16 high of 20.7014.
- The pullback is considered corrective, however, there is also the risk of a deeper retracement near-term. Price is below both the 20- and 50-day EMAs and a continuation lower would open 19.6185, the Jun 10 low.
- The Peso is being supported by the unanimous 75bp hike last week from Banxico and accompanying hawkish statement, helping to underpin the recent strength.
- Softer US data and accompanying recessionary risks continue to be a lingering headwind that has yet to manifest in the price action.
- Just released: Mexico May Unemployment Rate 3.27%; Est. 3.10%, Prior 3.03%
- Banxico Deputy Governor Irene Espinosa speaks at JPMorgan event with chief Mexico economist Gabriel Lozano on monetary policy challenges.
- Mexico’s central bank will report weekly international reserves, previously at $198.2b, for the week ending June 24.
- Remittances data and the latest central bank economist survey will be published on Friday.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.