s0r16123, 10:52AM LUSDIMXN hovers above 18.0100 ahead of US Retail Sales TRENDING: FURUSD | GaPUSD | XAUUSD | AUDUSD | USDCAD USD/MXN hovers above 18.0100 ahead of US Retail Sales NEWS |10/16/2023 02:59:17 GMT By Akhtar Faruqui share WF Oe USD/MXN retreats from a two-day winning streak ahead of US economic figures. US Dollar faces a challenge after the weaker preliminary US Michigan Consumer Sentiment Index. Banxico is expected to keep interest rates higher; contributing support for the Mexican Peso. USD/MXN pulls back from the recent gains, trading lower around 18.0160 during the Asian session on Monday. The pair is facing challenges after the release weaker-than-expected preliminary Michigan Consumer Sentiment Index from the United States (US) ©2023 FXStreet” All Rights Reserved Disclaimer hntps:wwwfxstreetcominewstusd-mxn-hovers-above-180700-ahead-of-us-etaltsales-202310160257 wr‘0/1073, 10:52AM LUSDIMXN hovers above 18.0100 ahead of US Retal Sales On Friday, the report for October showed a decline to 63.0 from the previous reading of 68.1, falling short of the expected figure of 67.4. However, the USD/MXN pair gained in previous sessions possibly due to the shift in discussions about the trajectory of the US Federal Reserve's (Fed) monetary policy following the slew of robust US data during the last week, with US inflation surpassing expectations and initial jobless claims coming in lower than anticipated. The US Dollar Index (DX) trades slightly lower around 106.50 at the time of writing. However, investors seem to factor in the possibility of another Federal Reserve (Fed) rate hike to curb inflation Moreover, the recovery in US Treasury yields from the recent losses could provide support in underpinning the US Dollar (USD). The yields on US Treasury bonds recovers on Monday, with the 10-year US Treasury bond yield standing at 4.65%, up by 1.0%. Additionally, the Greenback remains to benefit from the safe-haven flow amid the rising geopolitical tension between Israel and Palestine. An undisclosed source informed Reuters that there have been discussions between US officials and Israel regarding the potential visit of President Joe Biden to Israel. The invitation for this visit is reported to have come from Israeli Prime Minister Benjamin Netanyahu Market participants will likely watch the US Retail Sales (MoM) on Tuesday, with the figure expected to rise 0.2% in September, compared to the previous reading of 0.6% On the Mexican side, the recent release of Banxico's monetary policy minutes presents a hawkish outlook, with members indicating a reluctance to entertain the idea of a rate cut in the near term. The prevailing consensus among members reflects a belief that interest rates should be maintained at (©2023 FxStreet All Rights Reserved hntps:wwwfxstreetcominewstusd-mxn-hovers-above-180700-ahead-of-us-tetaltsales-202310160257 210/1679, 10:52AM LUSOIMXN hovers above 18.0100 ahead of US Reta Sales The main reason given for this position is the elevated prices noted in the services segment, identified as a significant factor influencing inflation data This hawkish sentiment highlights a careful approach to monetary policy, with a priority on addressing inflationary pressures. In September, the Bank of Mexico (Banxico) opted to keep interest rates steady at 11.25%. Additionally, the central bank revised its inflation projections for 2024 from 3.50% to 3.87%, exceeding the target range of 3% (plus or minus 1%). This adjustment in inflation forecasts suggests heightened concerns about the potential upward trajectory of prices, prompting a cautious stance from the central bank. USD/MXN: ADDITIONAL IMPORTANT LEVELS (©2023 FxStreet All Rights Reserved hntps:wwwfxstreetcominewstusd-mxn-hovers-above-180700-ahead-of-us-tetaltsales-20231016025710/1879, 10:52AM LUSOIMXN hovers above 18.0100 ahead of US Reta Sales oveRVIEW Today last price 18.0165 Todey Dally Change 0.0720 Today Daily Change % 0.40 Today dally open ya.0885 TRENDS Daily SMA20 7.6758 Daily SMASO 179269 Daily SMA100 v7.28 Daily SMaz00 77708 Levels Previous Daily High van Previous Dally Low 78434 Previous Weekly High 184zi6 Previous Weekly Low 17.9545 Previous Monthly High vrgi74 Previous Monthly Low 169727 Daily Fibonacci 38.2% 18.0081 Daily Fibonacci 61.8% 17.9452 Dally Pivot Point $1 179179 Dally Pivot Point $2 17.7873 Daily Pwot Point $3 17.6518 Daily Pivot Point 21 ve.1845 Dally Pivot Point 22 18.2805 Daily Pwot Point 23 184511 (©2023 FxStreet All Rights Reserved hntps:wwwfxstreetcominewstusd-mxn-hovers-above-180700-ahead-of-us-tetaltsales-202310160257 ans0716123, 10:52AM LUSDIMXN hovers above 18.0100 ahead of US Retail Sales Share: S\ Feed news Information on these pages contains forwardooking statements that involve rsks and uncertainties. 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You should 6o your own thorough research before making any investment decisions, FXStteet does notin any Follow us on Telegram Stay updated of all the news RECOMMENDED CONTENT Australian Dollar halts a three-day losing streak, focus on RBA minutes, US Retails Sales By Akhtar Faruqui| 32 minutes ago USD/MXN hovers above 18.0100 ahead of US Retail Sales By Akhtar Faruqui | 52 minutes ago WTI holds steady around mi Hamas conflict By Haresh Menghani | 02:50 GMT US and allies strive to douse Israel-Hamas flare up, Iran issues warning By Dhwani Mehta | 02:23 GMT $86.00s, over one-week high on Israel- GBP/USD retraces the recent losses near 1.2150, focus on UK labor data, US Retail Sales By Akhtar Faruqui | 02:22 GMT USD/CHF loses momentum above the 0.9000 area, eyes on Israel- Palestine tensions By Lallalit Srijandorn | 02:04 GMT USD/JPY struggles for a firm direction, stuck in a range around mid- 149.00s By Haresh Menghani | 02.04 GMT PBOC keeps one-year MLF rate steady at 2.50% (©2023 FxStreet All Rights Reserved nips stret.comMnewslusd-mxn-hovers-above-180 100-ahead-ofus-retasales-202510160257 8710/1679, 10:52AM LUSOIMRN hovers above 18.0100 ahead of US Reta Sales USD/CAD consolidates in a range around mid-1.3600s, downside seems cushioned By Haresh Menghani | 01:22 GMT PBoC sets USD/CNY reference rate at 7.1798 vs. 7.1775 previous By Haresh Menghani | 01:20 GMT EDITORS’ PICKS AUD/USD sticks to modest gains above 0.6300 amid looming geopolitical risks AUD/USD is posting small gains above 0.6300 in the Asian session on Monday. 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The frog-themed token has taken to the trend seen among its peers in the meme coin ecosystem, including Dogecoin and Shiba Inu, among others ©2023 FXStreet” All Rights Reserved hntps:wwwfxstreetcominewstusd-mxn-hovers-above-180700-ahead-of-us-etaltsales-202310160257 87s0716123, 10:52AM LUSDIMXN hovers above 18.0100 ahead of US Retail Sales Read more > Week ahead: Geopolitical risks step up as commodities surge Risky assets ended last week in the red, after news that Israel was preparing for a land invasion into Gaza sent commodity prices soaring. Not only is the oil price surging, which may continue if we continue to see wider tensions in the Middle East spill over, but European gas prices jumped 50% last week Read more >> FOREX MAJORS CRYPTOCURRENCIES SIGNATURES (©2023 FxStreet All Rights Reserved hntps:wwwfxstreetcominewstusd-mxn-hovers-above-180700-ahead-of-us-tetaltsales-202310160257 1