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Why MNI
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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 AccessMay Retail Sales, Mid-month CPI Due Next Week
- USDMXN has dipped by 0.3% in recent trade, bringing the pair back below initial firm resistance at 17.929, the 20-day EMA. The move unwinds some of yesterday’s sharp gain, which saw the pair briefly pierce the 18 level. Yesterday’s move came amidst a firmer footing for the dollar and pressure on equity markets, which lifted USDMXN more than 2% higher at one point, before gains were pared. Above here, more notable resistance is found at 18.5988, the Jun 28 high.
- Yesterday’s move also came as President-elect Sheinbaum announced three more members to her cabinet. She is still to say who she will appoint as Pemex CEO, saying that she’s reviewing profiles of who will run the company. On the data front, the calendar is light today. Next week, May retail sales are due on Monday, followed by mid-month CPI data for the first half of July on Wednesday.
- In other news, US Secretary of State Blinken met with Mexican Foreign Secretary Barcena on July 17, according to a statement, when they discussed migration issues. Blinken noted Mexico’s efforts to deter irregular migration, which have lowered encounters at the US-Mexico border.
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.