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USDMXN Fails To Gain Momentum Below 20.25, Peso Maintains Resiliency

  • USDMXN unable to make inroads below 20.25 and has since come to rest around 20.30. Once again, the Peso traded very resiliently throughout yesterday’s equity weakness and USDMXN is showing very few signs of any meaningful reversal away from this support level.
    • 20.1196, Oct 26 low will be the next target for MXN bulls.
  • 10am Mexico City time: Deputy Finance Minister Gabriel Yorio and Nafin and Bancomext head Luis Antonio Ramirez to speak at financial orientation event for CetesDirecto.

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