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MXN Resilience Ahead of US Inflation Data

MEXICO
  • An extension of dollar strength saw USDMXN pop to 20.1624, above the 200-day MA, however the move failed to garner momentum and the pair closed back below the average. Some peso strength to start Wednesday sees us drift back towards the 20.00 mark ahead of important US inflation data. Our Banxico preview for Thursday's decision will be published shortly.
  • Domestic data due at 1200BST/0700ET:
    • June Industrial Production SA MoM, est. 0.1%, prior 0.1%
    • June Industrial Production NSA YoY, est. 15.5%, prior 36.4%
    • June Manuf. Production NSA YoY, est. 16.7%, prior 48.0%

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