MXN remains on a tear, with the currency.....>

MEXICO: MXN remains on a tear, with the currency rallying close to 4% against

the USD across October. 19.0585 (this week's low) holds as first support in

USD/MXN, but a break below here opens levels not seen since July at 18.8644.

- The currency remains anchored by the continued improvement of the prospects of

the USMCA deal, with this week's headlines from Undersecretary Seade suggesting

USMCA is "likely" to be approved in the coming months helping matters further.

The expected approval of USMCA has also fed well into Vol markets, helping

keeping short-end implied vol tenors muted - today saw 1m contract near the

lowest since 2014.

- Focus turns to Mexican GDP data due next week, expected to improve to 0.5% Y/Y

and 0.2% Q/Q.