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MEXICO: Peso Steady as Official Trade Discussions Begin, Banxico QIR Due

MEXICO
EM BulletMexicoBulletEmerging Market NewsNorth America
  • Mexico’s economic calendar remains busy for the rest of the week. Today we will receive the latest quarterly inflation report from the central bank, before Thursday’s release of the Banxico minutes. Additionally, retail sales and the final reading of Q4 GDP are scheduled across Thursday and Friday’s sessions.
  • USDMXN trades steady today, having dipped to a fresh recent low of 20.2018 in early European trade. A negative session today would produce a losing streak of seven sessions for the pair, as negative sentiment for the dollar and a lower level of tariff related noise assists the renewed optimism for the peso.
  • Economy Minister Marcelo Ebrard and his team of officials are visiting Washington, and discussions with US officials are expected to take place between Wednesday and Friday. Ebrard says Mexico is looking to present ideas to the US side about strengthening trade integration between the two countries and to learn first-hand the trade objectives of President Trump’s administration.
  • For USDMXN, spot continues to narrow the gap to 20.1343, the Jan 24 low. A clear break of this level would highlight a potential reversal, opening 19.7618, the Nov 7 low.
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  • Mexico’s economic calendar remains busy for the rest of the week. Today we will receive the latest quarterly inflation report from the central bank, before Thursday’s release of the Banxico minutes. Additionally, retail sales and the final reading of Q4 GDP are scheduled across Thursday and Friday’s sessions.
  • USDMXN trades steady today, having dipped to a fresh recent low of 20.2018 in early European trade. A negative session today would produce a losing streak of seven sessions for the pair, as negative sentiment for the dollar and a lower level of tariff related noise assists the renewed optimism for the peso.
  • Economy Minister Marcelo Ebrard and his team of officials are visiting Washington, and discussions with US officials are expected to take place between Wednesday and Friday. Ebrard says Mexico is looking to present ideas to the US side about strengthening trade integration between the two countries and to learn first-hand the trade objectives of President Trump’s administration.
  • For USDMXN, spot continues to narrow the gap to 20.1343, the Jan 24 low. A clear break of this level would highlight a potential reversal, opening 19.7618, the Nov 7 low.