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September Unemployment Rate, USDMXN At Weekly Highs

MEXICO
  • National statistics agency Inegi reports Mexico’s unemployment rate for September at 1300BST/0800ET. The jobless rate is expected to reach 2.93%, down from 2.96% in August.
  • One of the main risks in containing inflation in Mexico in the short term are the fiscal stimuli proposed in the government’s 2024 budget, Banxico’s Deputy Governor Jonathan Heath said at a conference Wednesday according to local media outlet Reforma. - BBG
  • While USDMXN remains below its most recent cycle high, price remaining above both the 20- and 50-day EMAs affirm bullish conditions. Scope is seen for a climb towards $18.6172, the 76.4% retracement of the Mar 20 - Jul 28 downleg. The bull trigger is 18.4863, the Oct 6 high.

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