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USDMXN Edges Further Below 20.00, Approaches Key Support

MEXICO
  • President AMLO’s pact with businesses to limit inflation will help slow price growth, deputy central bank governor Jonathan Heath said Tuesday.
    • The Banxico deputy governor reiterated that Mexico inflation slowdown will be long, very fragile, when speaking to El Financiero-Bloomberg TV. Heath added that Mexico inflation unlikely to slow until prices decelerate globally.
  • Despite US Dollar indices trading on a surer footing, USDMXN has continued its grind lower, slowly narrowing the gap with key support at 19.7274, Apr 4 low.
  • An extremely light domestic data calendar this week, with only Friday’s Banamex economist survey of note, should keep broader global sentiment the main driver for local assets.
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