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Mid-Month CPI In Focus, Economic Activity Data

MEXICO
  • Very little price change in USDMXN since the open, with the pair trading in line with the USD index to start the week. A brief dip to 19.72 was well supported with overall narrow ranges across currency markets. With technical conditions more bullish, the focus remains on 19.9920, 61.8% of the Sep 28 - Nov 29 bear leg. Mid-month CPI data on Thursday will remain the domestic focus before Friday’s activity data.
  • Mexico and the US are aiming to resolve their dispute over GMO corn trade by the end of January, Mexico’s Foreign Minister Marcelo Ebrard said Friday after meeting with US Agriculture Secretary Tom Vilsack in Washington.
  • Tesla Inc. is finalizing plans to build an electric vehicle assembly plant in an industrial area of northeastern Mexico and may announce the factory as early as next week.

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