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MXN Trades On Surer Footing, Banxico Minutes Due

MEXICO
  • Despite the late Tuesday bounce for USDMXN, the pair has edged lower and continues to consolidate towards its recent lows. A resumption of weakness would expose key short-term support at 19.7533, the Sep 12 low, clearance of which would strengthen bearish conditions.
  • With the focus for global markets clearly on the US inflation data, it is worth noting that Banxico will release the minutes of the September 29 meeting at 1500BST/1000ET.
  • Additionally, US Secretary of State Antony J. Blinken and Mexican Foreign Minister Marcelo Ebrard are expected to hold a media briefing following high-level security talks at 12.30pm Mexico City time.

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