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USDCAD TECHS

Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

US

'Big Tech' Bill Goes To Senate

COMMODITIES

Oil Up For Fifth Week On Supply Disruption, Geopolitics

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  • USDMXN is hovering just above the March 2021 highs, although this pivot support level has been tested overnight amid broad greenback weakness. As noted, given the vertical nature of the most recent price action, it would not be a surprise to see an increase in volatility near-term and even a sharp corrective pullback. A strong short-term support is seen at 20.9790.
  • Mexico will publish the year-to-date budget balance, international reserves for the week ending Nov. 26 and October outstanding loans data.
  • State oil company Pemex will release monthly data on production, sales and exports.
  • During his daily press conference, President AMLO ruled out the possibility of another lockdown period in response to the Omicron variant of the coronavirus, explaining it’s too early to say that the variant poses a risk to Mexico, since it has to be studied more.
  • The president also rejected claims alleging that his sons are tied to a businessman who has benefited from the government’s “Sowing Life” tree-planting program. (BBG