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Trade & Current Account Balance Data Scheduled

MEXICO
  • Mexico is expected to report a $1.43b trade deficit in April from a surplus of $1.17b the month before, according to economists surveyed by Bloomberg. The data is published at 1300BST/0800ET. Later in the day, current account balance data for the first quarter will also be published.
    • April Revised Trade Balance, est. -1.43b, prior 1.17b
    • April Exports, prior 53.6b
    • April Imports, prior 52.4b
    • Q1 Current Account Balance, est. -$9.22b, prior $4.58b
  • The Mexican peso outperformed on Wednesday, despite the risk-off sentiment prevailing across global markets. News regarding the government agreeing to pay for a railway line it had appropriated mitigates short-term political uncertainty to an extent.
    • The Peso recovery was aided by the technical backdrop, with an earlier note stating that USDMXN has remained below the 50-day exponential moving average, a potentially significant development. This average intersects today at 18.0068.

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