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Bearish Daily Close For USDMXN

MEXICO
  • USDMXN closes below the Mar 18 low of 20.2829 and the 100-day MA. Technically the break strengthens a bearish argument and may expose the 20.00 handle and the notable February lows residing at 19.8924. In line with peso strength the swap curve bull flattened with the belly and long end of the TIIE curve shifting around 20 basis points lower.
  • Priced overnight: Mexico $2.5b 20Y Fixed (Aug. 14, 2041) at +205, IPT +240 area
  • Just released - Mexico Gross Fixed Investment Fell 10.6% in Jan. vs -12.5% expected.

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