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USDMXN Holds Narrow Range, Cetes Auctions

MEXICO
  • USDMXN price action continues to look subdued, currently holding at the top end of Monday's 19.85/19.95 range. Weekly reserves today the only domestic data point in a very quiet week. Expect the Peso to be driven by dollar/risk sentiment following the FOMC decision tomorrow.
  • U.S. Homeland Security Secretary Alejandro Mayorkas to have meetings with Foreign Minister Marcelo Ebrard and Mexico's security cabinet. Mayorkas arrived to Mexico City Monday evening.
  • 11:30am local time: Banxico to announce auction results of:
    • 5b pesos of 28-day Cetes
    • 7.4b pesos of 90-day Cetes
    • 13.5b pesos of 182-day Cetes
    • 11.5b pesos of 350-day Cetes
    • 11b pesos of Bondes D
    • 2.3b pesos of Mbonos due Nov. 2038
    • 580m udis of inflation-linked bonds due Nov. 2035

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