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USDMXN Edges Lower, April Economic Activity

MEXICO
  • Recent price action for USDMXN reinforces bearish technical conditions. Scope is seen for a move towards 16.9791 and 16.7758, the 1.618 and 1.764 projections of the Jun 2 - Mar 9 - Mar 20 price swing. Mexico’s statistics agency Inegi will release economic activity data for April at 1300BST/0800ET:
    • Economic Activity IGAE MoM, prior -0.33%
    • Economic Activity IGAE YoY, prior 2.70%
    • Separately, Deputy Finance Minister Gabriel Yorio will speak at an event on sustainable financing.

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