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Global Macro
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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 Weakness Sees USDMXN Dip Below 17.00
- The persistent grind lower for the greenback continues to bolster the peso and in recent trade USDMXN has traded below notable support at 16.9988, the Sep 20 low. Sustained clearance of this level would signal scope for a move towards 16.6262, the Jul 28 low.
- At the top of the hour, we have both trade balance data for November and economic activity figures for October. Mexico is expected to report a $155-million trade surplus in November, from a $252.5-million deficit the month before, according to economists surveyed by Bloomberg.
- Nov. Trade Balance, est. 155m, prior -252.5m
- Nov. Imports, prior 52.2b
- Nov. Exports, prior 52b
- Oct. Economic Activity IGAE M/m, est. 0.05%, prior 0.60%
- Oct. Economic Activity IGAE Y/y, est. 3.93%, prior 3.34%
- In local news, a trio of top US officials will soon visit Mexico to discuss fresh actions to crack down on illegal migration, as a spike in crossings at the southwest border has raised pressure on President Joe Biden to take action.
To read the full story
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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.