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MEXICO: USDMXN Tests Resistance at 19.00, Unemployment & Fixed Investment Data

MEXICO
  • Further pressure on the Mexican peso has been seen early Friday, with the pair testing the post-election highs around 19.00 ahead of the key US employment data due at 1330BST/0830ET. A potentially noisy release due to Hurricane Beryl could further stoke volatility, with a break of the 19.00 handle potentially placing USDMXN at the highest level since early 2023. Moving average studies are in a bull-mode position and this continues to highlight an uptrend. Above here, the focus will be on 19.2322, the March 2023 high.
  • On the domestic side, June unemployment rate should remain steady at 2.63% and this will be followed by gross fixed investment & private consumption data for May. Figures are scheduled for release at 1300BST/0800ET:
    • June Unemployment Rate NSA, est. 2.63%, prior 2.62%
    • May Gross Fixed Investment YoY, est. 8.4%, prior 18.1%; MoM est. 0.8%, prior 0.9%
    • May Private Consumption YoY, est. 3.5%, prior 8.0%
EM BulletMexicoBulletGlobalEmerging Market NewsRegion
EM BulletMexicoBulletGlobalEmerging Market NewsRegion

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