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Retail Sales Thursday, USDMXN Treads Water Around 18.00

MEXICO
  • USDMXN trades around unchanged for April, however, any rallies for the pair continue to be well sold into. The focus remains on 17.8981, the Mar 9 low. A breach of this level would open 17.5746, the Aug 25 2017 low. Initial firm resistance moves down to 18.4154, the 50-day EMA.
    • A fairly quiet week on the data front with February retail sales headlining on Thursday.
  • Last Friday, President AMLO shrugged off a news report that suggested the government actively tried to weaken an independent body designed to improve official transparency. Speaking at his daily morning press conference, AMLO stated that he “doesn’t want to get involved,” when asked if he was seeking to stop transparency watchdog, called INAI by its Spanish acronym, from operating.

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