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Inflation Report Due, Business Lobby Forum On Electricity Sector

MEXICO
  • Considerably less volatility in local rates has kept the currency steady and at the mercy of broader global themes. Bolstered equity indices as well as yesterday's US dollar weakness has helped the Peso recover after USDMXN briefly printed above 21.00 late last week. Technically, last Thursday's rally confirmed a resumption of the current uptrend and may remain underpinned with local issues still lingering in the background.
  • 03-Mar 1800GMT/1300ET - Banxico will issue its quarterly report where they will release their outlooks for economic growth and inflation. This comes following a unanimous decision to cut rates in February and will be closely monitored for clues on whether their easing cycle may continue at the March meeting.
  • Importantly at 9am local time: Mexico's top business lobby CCE holds a forum on the electricity sector amid ongoing concerns surrounding President AMLO's electricity bill with a potential vote due later this week.

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