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MEXICO: Q2 Aggregate Supply And Demand Due At 1300BST

MEXICO
EM BulletMexicoBulletGlobalEmerging Market NewsRegion
  • The Mexican peso is trading marginally stronger against the dollar ahead of today’s FOMC meeting, following a rebound yesterday, which saw USDMXN fall 0.67% to 19.10, having traded as high as 19.40 earlier in the session. Yesterday’s reversal was driven by a recovery in USDJPY from 14-month lows following robust US data, which prompted a 2.9% rebound in MXNJPY. Spot currently resides close to the next key support at the 50-day EMA, which intersects today at 19.0671.
  • On the data front, Q2 aggregate supply and demand figures will be released at 1300BST(0800ET), with the market expecting growth to edge up to 2.7% y/y.
    • 2Q Aggregate Supply and Demand, est. 2.7%, prior 2.6%
  • In other news, the government’s tax revenue collection was up by 5.9% y/y in real terms, according to a press release from the country’s tax authority, SAT. From January to August, the cost of revenue collection was 24 cents per 100 pesos brought in, three cents less than the same period the year before, and the lowest figure on record, SAT said.
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  • The Mexican peso is trading marginally stronger against the dollar ahead of today’s FOMC meeting, following a rebound yesterday, which saw USDMXN fall 0.67% to 19.10, having traded as high as 19.40 earlier in the session. Yesterday’s reversal was driven by a recovery in USDJPY from 14-month lows following robust US data, which prompted a 2.9% rebound in MXNJPY. Spot currently resides close to the next key support at the 50-day EMA, which intersects today at 19.0671.
  • On the data front, Q2 aggregate supply and demand figures will be released at 1300BST(0800ET), with the market expecting growth to edge up to 2.7% y/y.
    • 2Q Aggregate Supply and Demand, est. 2.7%, prior 2.6%
  • In other news, the government’s tax revenue collection was up by 5.9% y/y in real terms, according to a press release from the country’s tax authority, SAT. From January to August, the cost of revenue collection was 24 cents per 100 pesos brought in, three cents less than the same period the year before, and the lowest figure on record, SAT said.