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Industrial Production Data, Reports Of Potential MXN ESG Debt Issue

MEXICO
  • The weaker greenback has been contributing to a slow grind lower for USDMXN back towards the most recent lows just beneath the 17.00 handle. 16.9791 and 16.7758, both Fibonacci projections, mark the next key targets on the downside. Production data for May is due at 1300BST/0800ET:
    • May Industrial Production SA M/m, est. 0%, prior 0.4%
    • May Industrial Production NSA Y/y, est. 1.6%, prior 0.7%
    • May Manuf. Production NSA Y/y, prior 1.4%
  • According to people familiar with the matter, Mexico is said to be reaching out to investors ahead of a potential peso-denominated sustainable bond issue. Debt arrangers may start taking orders for the transaction in the coming days, said the people, who asked not to be named ahead of a public announcement. No final decision about whether to push ahead with the transaction has been made. Separately, Mexico’s central bank will sell 25b pesos of Cetes and Bondes F in an auction today.

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