Sentiment has kicked of what will likely be a very‐active week on a positive note, with liquidity in the Asian trading session potentially being limited by a Chinese bank holiday. There are a number of relevant indicators in the pipeline for today (see next paragraph), but the highlights of the week are scheduled for later, as non‐farm payrolls and the Fed’s FOMC meeting likely take the spot‐light this week. LATAM FX are mostly opening stronger, with USD/MXN once again trading below its 20‐year ascending trend‐line, but support at 12.0 is likely to be resilient.
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Scotiabank