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US Equities Bolster MXN, April Retail Sales Due

MEXICO
  • Late pressure in the dollar continued into the close last night, dragging USDMXN back below 20.40. Another wave of selling prompted fresh lows for Wednesday at 20.2630, with bolstered Equity indices acting as a tailwind for the Peso.
  • Focus remains on Thursday's CPI prints, followed by Banxico's rate decision/statement. All analysts are forecasting an unchanged decision with many commentators expecting a marginal hawkish shift in the statement language. Our full preview with analyst views will be published shortly.
  • Today:
    • 23-June 1200BST/0700ET – Mexico April Retail Sales (Est 0.6% m/m, Prior 3.6%)
    • 23-June 1200BST/0700ET – Mexico April Retail Sales (Est 30.3% y/y, Prior 2.5%)

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