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MEXICO: USDMXN Trades in More Contained Range Ahead of Busy Week

MEXICO
EM BulletMexicoBulletGlobalEmerging Market NewsRegion
  • USDMXN has been respecting a contained 19.80/90 range since mid-session Thursday as more subdued sentiment across currency markets prevails ahead of the week’s close. The extremely busy global economic calendar next week will likely be keeping market participants on the sidelines for now, as the USD index takes a breather from its most recent lofty levels.
  • US GDP and employment data next week are likely to drive the greenback price action, while US election probabilities will also continue to be closely monitored. Additionally, spillover effects to broader sentiment from the Japan election, the BOJ, the UK budget and month-end rebalancing should not be underestimated.
  • On the domestic docket, trade balance data for September and the preliminary read of Q3 GDP will be highlights. Naturally, there will be continued attention paid to the trajectory for constitutional reforms in Mexico, and what impact this may have on the outlook for major ratings agencies.
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  • USDMXN has been respecting a contained 19.80/90 range since mid-session Thursday as more subdued sentiment across currency markets prevails ahead of the week’s close. The extremely busy global economic calendar next week will likely be keeping market participants on the sidelines for now, as the USD index takes a breather from its most recent lofty levels.
  • US GDP and employment data next week are likely to drive the greenback price action, while US election probabilities will also continue to be closely monitored. Additionally, spillover effects to broader sentiment from the Japan election, the BOJ, the UK budget and month-end rebalancing should not be underestimated.
  • On the domestic docket, trade balance data for September and the preliminary read of Q3 GDP will be highlights. Naturally, there will be continued attention paid to the trajectory for constitutional reforms in Mexico, and what impact this may have on the outlook for major ratings agencies.