MEXICO: Activity, Inflation and Trade Data Precede Banxico Next Week

IGCP has announced to delay the bidding deadline of today's BT auction further due to ongoing technical issues with Bloomberg, to 14:30 BST or until the issue is sorted.

SFIU5 96.00/96.20cs 1x2, bought for 2.75 in 10k.

• In FX, EURUSD is trading higher this week, extending the bounce that started May 12. Trend conditions remain bullish and moving average studies are in a bull mode position, highlighting a dominant uptrend. The latest recovery suggests the Apr 21 - May 12 correction is over. Sights are on 1.1381 next, the May 2 - 6 high. Key support to watch lies at 1.1109, the 50-day EMA. A break of this level would instead signal scope for a deeper retracement. Initial support at the 20-day EMA lies at 1.1236 20-day EMA.
• GBPUSD has pierced key resistance and the bull trigger at 1.3444, the Apr 28 / 29 high. A clear break of this hurdle would confirm a resumption of the uptrend and signal scope for an extension towards 1.3510, a 1.236 projection of the Feb 28 - Apr 3 - 7 price swing. Medium-term trend signals highlight a dominant uptrend - moving average studies are in a bull-mode position. Key support to watch is 1.3137, the 50-day EMA. First support lies at 1.3282, the 20-day EMA.
• USDJPY is trading lower today extending the reversal that started May 12. The pullback signals the end of the corrective cycle since Apr 22 and marks a resumption of the downtrend. A continuation lower would expose 142.36, the May 6 low. Note that the 20-day EMA, at 145.11, has been cleared, strengthening a bearish theme. Key short-term resistance has been defined at 148.65, the May 12 high. Initial firm resistance is 146.16, 50-day EMA.