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USDMXN Continues To Consolidate Post High Level Talks With US

  • USDMXN continues to track either side of the 20.00 mark in line with broadly unchanged dollar indices on Thursday. A continuation higher would further undermine a recent bearish threat and expose resistance at 20.2944, the Sep 1 high.
    • On the downside, a break of Monday’s low of 19.7533, the Sep 12 low, is required to reinstate a bearish theme.
  • Mexico concluded a labor rights review requested by the US at a Manufacturas VU auto parts plant in Coahuila, according to a statement from the labor and economy ministries. Mexico indicated that the auto parts plant was in compliance with labor rights.
  • In the US, focus turns to the August retail sales report and the release of both Empire State & Philly Fed Manufacturing Index data all to be released at 1330.
  • Banxico will release its report on regional economies today.

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