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USDMXN Consolidates Back Below 20.00, Eyes First Support at 19.7850

  • USDMXN spent Monday consolidating last week's move lower back below 20.00 and the Peso has resumed its upbeat tone to start Tuesday. A break of the most recent lows between 19.7850-19.80 may suggest scope for weakness towards 19.5494, Jan 21 low.
  • Mexico Gross Fixed Investment Fell 4.5% in Feb.
  • 11:30am: Banxico announces auction results of:
    • 5b pesos of 28-day Cetes
    • 7.4b pesos of 91-day Cetes
    • 13b pesos of 175-day Cetes
    • 11.5b pesos of 357-day Cetes
    • 11.5b pesos of Mbonos due March 2026
    • 550m udis of inflation-linked bonds due Nov. 2031
  • A Mexican federal court has granted a temporary suspension for parts of a new law that pertain to the suspension of private companies' fuel permits for national or energy security, according to the document seen by Bloomberg.
    • The decision was granted in response to five separate injunctions by companies that hold fuel permits.

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