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Peso Recovery Sees USDMXN Consolidate Back Below 19.00

MEXICO
  • The late rally for global equities and the softer greenback helped lead USDMXN back below the 19.00 handle on Tuesday, where it has consolidated in a very tight range around 18.87 overnight.
  • The overall trend outlook remains bearish and the latest recovery is considered corrective - for now. On the downside, key support and the bear trigger remain at 18.5080.
  • Central bank to report weekly international reserves at 9am for the week ended Feb. 3. Previous week reserves were $201 billion.
  • 1630 GMT/1030 Local: Banxico to offer up to 30b pesos of Cetes and Bondes F in an extraordinary auction.
  • President AMLO will meet Cuba President Miguel Diaz-Canel on Feb. 11 at 8am, El Universal reported.

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