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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.
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Free AccessBroad Greenback Strength Further Bolsters USDMXN
- USDMXN (+0.52%) is extending on last week’s gains and despite the recovery being considered technically corrective, the pair continues to narrow the gap with key resistance at 17.4280, the Aug 4 high. A clear break of this hurdle is required to highlight a potential short-term reversal and open 17.7714, the May 31 high.
- As a reminder, Bloomberg reported late on Monday that the government’s draft 2024 budget is expected to include a capital allocation to Pemex to pay maturing debts that have surpassed $11 billion, according to people with knowledge of the matter. The article suggests the inclusion of Pemex’s maturing debt in the budget would be a bid to ease concerns in the market about the management of the oil company’s finances, one of the people said. For reference, Mexico's finance ministry is scheduled to present the draft budget this coming Friday.
- The key events in Mexico this week will be the Morena governing coalition announcing its presidential candidate on Wednesday and Thursday’s release of August CPI.
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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.