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Mexican Peso Starts Week On Firmer Footing, Rises 0.85%

MEXICO
  • Late strength for USDMXN on Friday has reversed since the open and the pair has gravitated back below 18.00 for now, and resides down 0.85%. Outperformance in G10 from the likes of AUD and NZD are signalling an improvement in risk appetite to start the week. Overall, USDMXN maintains a bullish technical tone and initial support at the 20-day EMA moves up to 17.7773, closely aligning with last week’s lows. A quiet local calendar this week sees August retail sales headline on Friday.
  • Today, Deputy Finance Minister Gabriel Yorio will speak at a sustainable finance event hosted along with the Global Green Growth Institute (GGGI) and the Korean International Cooperation Agency (KOICA). Participants are also expected from Colombia, Peru, Dominican Republic and Guatemala.

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