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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
MEXICO
- The Mexican peso has been consistently grinding higher over the course of the session, boosted by momentum buying in MXNJPY, that broke horizontal resistance earlier today.
- MXNJPY resides up 1.5% for the session and with today's surge, extends its winning streak to 6 days, amid the broadly weaker Yen.
- An improved outlook has seen overall strength in equities to close the week which has also benefitted MXN.
- USDMXN has traded below short-term support seen at 20.4618, Oct 7 low. This break may now place the focus on 20.2039 support, the Sep. 20 high.
- Obvious domestic headwinds remain in place surrounding the uncertainty of the proposed electricity reforms with a potential cost in damages and compensation to private industry of about $85 billion, according to Citibanamex analysts in a report released this week.
- Next week, the domestic data focus will be on retail sales along with Friday's release of bi-weekly CPI
MNI/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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