USD/MXN: A retest of late-July lows of 16.62 is not ruled out – SocGen

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24 August 2023

USD/MXN: A retest of late-July lows of 16.62 is not ruled out – SocGen

Economists Société Générale analyze USD/MXN outlook ahead of Mexican first half-month inflation.

Mid-month CPI data is set to show further deceleration

The mid-month CPI data for Mexico is set to show further deceleration in the headline inflation to 4.61% from 4.78% and in core to 6.24% from 6.52%. The minutes of the recent Banxico meeting will also be in the spotlight for rate guidance.

USD/MXN returned decisively below 17.00 and a retest of late-July lows of 16.62 is not ruled out.

EUR/GBP moves sideways around 0.8550, focus on ECB President Lagarde’s speech

Forex Today: Mood remains upbeat ahead of US data, Jackson Hole Symposium

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