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MEXICO: USDMXN Edges Lower, Industrial Production Data Due

MEXICO
EM BulletMexicoBulletGlobalEmerging Market NewsRegion
  • Moderate weakness for the USD index on Friday is reflected by USDMXN hovering close to session lows, just above 19.40. As we noted yesterday, spot has been unable to close below the 50-day exponential moving average, which now intersects at 19.2627, and this represents the most meaningful short-term support.
  • Reforms update: the Senate approved in general terms a set of electoral reforms regarding the election of the country’s federal judges set for next year, as part of the judicial overhaul approved by Congress in September.
  • President Claudia Sheinbaum is set to address the recent conversion of Vulcan Materials Co.’s quarry into an environmentally protected area at her press conference alongside Environmental Minister Alicia Barcena. Industrial & manufacturing production data for August is due at 1300BST/0800ET:
    • Industrial Production SA MoM, est. 0.2%, prior 0.2%
    • Industrial Production NSA YoY, est. 0.4%, prior 2.1%
    • Manuf. Production NSA YoY, est. 0.9%, prior 1.6%
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  • Moderate weakness for the USD index on Friday is reflected by USDMXN hovering close to session lows, just above 19.40. As we noted yesterday, spot has been unable to close below the 50-day exponential moving average, which now intersects at 19.2627, and this represents the most meaningful short-term support.
  • Reforms update: the Senate approved in general terms a set of electoral reforms regarding the election of the country’s federal judges set for next year, as part of the judicial overhaul approved by Congress in September.
  • President Claudia Sheinbaum is set to address the recent conversion of Vulcan Materials Co.’s quarry into an environmentally protected area at her press conference alongside Environmental Minister Alicia Barcena. Industrial & manufacturing production data for August is due at 1300BST/0800ET:
    • Industrial Production SA MoM, est. 0.2%, prior 0.2%
    • Industrial Production NSA YoY, est. 0.4%, prior 2.1%
    • Manuf. Production NSA YoY, est. 0.9%, prior 1.6%