Mexico Industrial Output declined to -2.1% in May

Mexico Industrial Output, month over month, declined to -2.1% in May from previous 1.5%. The Annualized Mexico Industrial Output fell from previous -2.9% to -3.3% in May. Compared to a year ago, the data shows that the conditions remain a little softer and that highlights some weakness still seen in the Mexican industrial sector.

USMXN is trading 0.10 percent higher at 19.0938, the technical picture for the pair is neutral after the pair failed the two previous day break but failed to hold above the 150 day moving average at 19.20. Mexican peso was under selling pressure since Tuesday after the Mexican Finance minister resigned and accused the Government of placing officials with no knowledge of finance in the ministry. Immediate support for the pair stands at 18.75 the low from April while more solid buying will emerge at 18.70. On the upside first resistance stands at 19.1316 the 100 day Moving Average while extra offers will emerge at the 19.2074 the 150 day moving average.Don’t miss a beat! Follow us on Twitter.