- USDMXN has spent Thursday’s session consolidating just above the 20.00 mark, having reversed significantly following the post-election spike to 20.80. The impressive rally for US equity indices appears to be cushioning the appears to be cushioning the blow for the peso, with short-term positioning for tariff related weakness potentially a little stretched.
- Exponential moving averages provide the first notable support levels for USDMXN with the 20-day and 50-day intersecting at 19.9403 and 19.6474 respectively.
- In her expected presentation of the government’s energy plan, President Sheinbaum released details which include $23.4 billion in spending on energy infrastructure projects through 2030.
- $12.3 billion will be allocated to electricity generation and $11.1 billion to transmission and distribution networks. Sheinbaum will present a plan for Pemex on November 13.
- Focus shifts to October inflation data at the top of the hour. Headline inflation is expected to move a touch lower from the mid-month print, with core CPI holding steady around 3.84% Y/y.
- Oct. CPI MoM, est. 0.53%, prior 0.05%, YoY, est. 4.74%, prior 4.58%
- Oct. CPI Core MoM, est. 0.33%, prior 0.28%, CPI Core YoY, est. 3.85%, prior 3.91%
MEXICO: Peso Recovers, October Inflation Data Awaited
Last updated at:Nov-07 11:52By: Jack Lewis
Mexico+ 1
- USDMXN has spent Thursday’s session consolidating just above the 20.00 mark, having reversed significantly following the post-election spike to 20.80. The impressive rally for US equity indices appears to be cushioning the appears to be cushioning the blow for the peso, with short-term positioning for tariff related weakness potentially a little stretched.
- Exponential moving averages provide the first notable support levels for USDMXN with the 20-day and 50-day intersecting at 19.9403 and 19.6474 respectively.
- In her expected presentation of the government’s energy plan, President Sheinbaum released details which include $23.4 billion in spending on energy infrastructure projects through 2030.
- $12.3 billion will be allocated to electricity generation and $11.1 billion to transmission and distribution networks. Sheinbaum will present a plan for Pemex on November 13.
- Focus shifts to October inflation data at the top of the hour. Headline inflation is expected to move a touch lower from the mid-month print, with core CPI holding steady around 3.84% Y/y.
- Oct. CPI MoM, est. 0.53%, prior 0.05%, YoY, est. 4.74%, prior 4.58%
- Oct. CPI Core MoM, est. 0.33%, prior 0.28%, CPI Core YoY, est. 3.85%, prior 3.91%
