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USDMXN Consolidates Ahead Of March FOMC, Mayorkas In Mexico

MEXICO
  • Muted price action since this week’s open as USDMXN consolidates back below the 21.00 handle and a vacant domestic data calendar leaves the focus on Wednesday’s Fed meeting.
    • Firm support is seen around 20.65 at the 50-day EMA. A break of this average would reinstate a bearish technical theme.
  • President AMLO said on Twitter he discussed labour and migration issues in a meeting with U.S. Homeland Security Secretary Alejandro Mayorkas.
    • AMLO added they continue to promote cooperation for development with justice and respect for human rights.
    • Mayorkas will continue his visit in Mexico today.
  • The U.S. Consulate in Nuevo Laredo, Tamaulipas, will remain temporarily closed to the public, and operations will be taken to protect the property and the people working there after violence overnight, according to a govt statement.
    • Mexico’s Foreign Ministry has been in direct communications with U.S. representatives and authorities have taken immediate measures to provide security to consular representation, according to the statement from the Mexican govt. (BBG)
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