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MXN Maintains Resiliency Amid Geopolitical Tensions

  • MXN continues to consolidate towards best levels and continues to appear sheltered to global developments. Markets will pay attention to a sustained move below 20.25 this week, with the next potential USDMXN target residing at 20.1196, the October lows.
    • Bi-Weekly CPI will be released on Thursday.
  • Finance Minister Rogelio Ramirez de la O and the OECD’s Mathias Cormann present a survey examining the impact of the Covid-19 pandemic on Mexico’s economy. Event scheduled for 10am Mexico City time.
  • Exports of Mexican avocados to the US will resume after a threat to a US inspector resulted in a temporary halt to inspections, cutting off Americans’ primary supply of the popular fruit.
    • In the statement Friday, the US Department of Agriculture (USDA) said employee safety "is of paramount importance" and noted the "positive, collaborative relationship" between the neighboring nations to resolve the issue.

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