Free Trial

USDMXN Edges Lower, Approaches 100-day Moving Average

MEXICO
  • USDMXN is edging towards most recent lows amid a marginally softer dollar on Tuesday. An intersection of the 100-day moving average as well as a break of 20.0975, would open 19.9368, the September 22 low. Yesterday's disappointing economic activity figures for August have prompted market analysts to downgrade their expectations for Q3 GDP. As a reminder, growth data is due on Friday with the current median estimate at +0.1% Q/q.
  • The head of Mexico's state-owned electricity provider CFE, Manuel Bartlett Diaz, speaks in front of congress, currently scheduled for 5pm Mexico City time.
    • He is due to address lawmakers as they prepare to debate a constitutional amendment to strengthen the utility and guarantee the state a set market share.
  • Additionally, the full senate set to consider 2022 budget proposal
  • 11:30am: Central bank to announce auction results of:
    • 6b pesos of 28-day Cetes, 12b pesos of 91-day Cetes
    • 13b pesos of 175-day Cetes, 7.5b pesos of 357-day Cetes
    • 2b pesos of Bondes F due Oct. 2026, 7b pesos of Mbonos due March 2027
    • 600m udis of inflation-linked bonds due Nov. 2031

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.