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Summary 1/2 - Mex Financing Plan, USDMXN Expiries

LATAM

MEXICO - USDMXN traded a little higher overnight following the decision from Banxico to leave rates unchanged with a marginal dovish shift in the voting. 19.70 remains solid support in the pair.

  • Today, Mexico's Finance Ministry holds a conference call on its 2021 financing plan and securities auctions calendar for the next three months (9am Local).
  • Some notable expiries rolling off today in USDMXN which could cap the price action as we head into Banxico decision later: *Dec18 - Mxn19.50($1.95bln-USD puts), Mxn20.00($2.4bln-USD puts)

BRAZIL - Brazilian lawmakers approved the draft of a bill that authorizes the government to use BRL178b from public funds for expenses related to the pandemic. Move on to the Senate.

  • USDBRL fairly steady between 5.05-5.10 yesterday. 5.00-5.15 remains the short term range to watch.
  • Economy Minister Paulo Guedes holds virtual press conference, 10am Local.
  • 1230GMT Brazil Current Account - expected to report a surplus of $1b in November, after a prior $1.473b surplus.

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