March 21, 2023 12:28 GMT
Peso Extending Recovery Amid Firmer Sentiment
- USDMXN has extended the pullback from Monday’s 19.2322 highs and sits 0.75% lower on the day around 18.70 as of writing. 18.5054, the Feb 24 high, is the first support to watch.
- With local markets reopening following the President’s Day holiday, the data docket remains quiet to start the week, keeping global sentiment and the FOMC as the primary drivers. However, on Thursday we have January retail sales data as well as bi-weekly CPI which precedes economic activity data on Friday. The next Banxico decision falls on March 30.