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Unemployment Data Due, Mexico To Discuss Lithium Production

MEXICO
  • USD strength extending across markets, keeping USDMXN towards the upper end of the most recent range, just below the 20.50 mark. Attention for the pair is on the 50.0% Fibonacci retracement of the Mar-Apr range, at 20.5975. Clearance of this level would open 20.8028, the 61.8% retracement.
  • Members of President AMLO’s Cabinet are in the final stages of negotiations with businessmen and food producers to freeze the domestic prices of 25 food staple items in an effort to control inflationary effects on households.
    • President AMLO stated that Mexico is not controlling prices, just giving fair ones. He intends to present plan to fight inflation next Wednesday.
  • Mexico wants to convene a meeting with other Latin American countries with lithium production potential to discuss Mexico’s new company which gives the state control of lithium exploitation, the Mexican leader announced in a press conference Wednesday. (BBG)
  • Data Today:
    • 1200BST/0700ET: March Unemployment Rate NSA, est. 3.40%, prior 3.74%
    • March Budget Balance YTD, prior -170.4b pesos
  • Americas Society/Council of the Americas hosts Latin American Cities Conference. Speakers include:
    • 0900 local: Finance Minister Rogelio Ramirez de la O.
    • 0935 local: Economy Minister Tatiana Clouthier.
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