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USDMXN Halts Losing Streak, Gains In Line With Greenback Strength

MEXICO
  • USDMXN halted a six-day losing streak on Monday and is a touch higher overnight, in line with greenback strength.
  • Friday's low print of 19.8523 remains intact and will be the first hurdle for MXN bulls before the more notable horizontal supports beginning at 19.80.
  • Focus for markets will be on Thursday's August CPI data that will prove important for Banxico governing board members as their September 30 meeting looms.
  • Today, markets will also receive the Citibanamex Survey of Economists.
  • *11:30am Mexico City Time: Central bank to announce auction results of:
    • 5b pesos of 28-day Cetes, 12b pesos of 91-day Cetes
    • 13b pesos of 182-day Cetes, 9b pesos of 350-day Cetes
    • 11b pesos of Bondes D due Sept. 2022 to Aug. 2024
    • 3.5b pesos of Mbonos due Nov. 2038
    • 920m udis of inflation-linked bonds due Nov. 2035

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