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USDMXN 1.25% Higher Following US CPI - Banxico Decision Due

MEXICO
  • The weakness in equities keeping the Peso on the backfoot with USDMXN about 1.25% higher since yesterday's US CPI release. Key resistance defined at 20.3270, May 4 high.
  • Today at 11am local time: Finance Minister Arturo Herrera and Economy Minister Tatiana Clouthier among scheduled speakers at AS/COA conference on Mexico's economic recovery.
  • Banxico rate decision later today, all analysts expect an unchanged decision at 4.00% – our full preview with analyst views can be found here: https://roar-assets-auto.rbl.ms/documents/9903/MNI%20Banxico%20Preview%20May%202021.pdf
  • News: Lower House majority leader Ignacio Mier said on Wednesday that lawmakers from ruling party Morena won't support a new reform to Mexico's Afore pension fund system. (BBG)

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