The United States will publish CPI and core CPI on September 11, at 15:30 MT time.
USD/MXN: the rate decision is ahead
The Bank of Mexico is expected to cut its interest rate from 7.75% to 7.5% today at 21:00 MT time
The market has been already pricing in the interest rate decision. On H4, USD/MXN has tested the highs at 19.48-19.50. That is why the pair may move lower after the announcement.
If the Banxico surprises with a bigger rate cut, the Mexican peso will weaken. In this case, the retest of the 19.48-19.5 levels may be possible for USD/MXN. The next resistance will lie at 19.5450.
If the regulator leaves the interest rate unchanged, the Mexican currency will strengthen. This scenario increases the opportunity for USD/MXN to break the 19.41 level on H4. The next support will lie at 19.34.
The focus of traders’ attention shifted from Brexit and the US stimulus to the coronavirus . The WHO claimed that Europe become the new Covid-19 epicenter.
Canada will publish the monthly GDP growth on October 30 at 14:30 MT time.
The European Central Bank publishes the monetary policy statement alongside with an update on the interest rate on October 29, at 14:45 MT time.