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MXN Continues Strong Performance, US Kerry To Meet With AMLO

MEXICO
  • USDMXN retreated again during Wednesday trade and has delivered a fresh cycle low.
  • The trend remains lower and the resumption of the downtrend, together with the recent breach of 20.00, reinforces this condition.
  • The Sep 13, 2021 low at 19.8486 was briefly tested and a sustained break may target the June ’21 lows at 19.5987.
    • Remittances data is due Friday, alongside the latest Banxico survey of economists.
  • U.S. Special President Envoy for Climate John Kerry will visit Mexico and meet with President AMLO, other government officials and members of the U.S. business community.

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